Shell Plans “Giant, long-term project in the field of LNG and oil in Yamal and in the Kara Sea”
(Pic-Kommersant) In a closed door meeting with President Putin, Shell’s chief executive Jeroen van der Veer (left in picture, Northern Sakhalin covered with oil rigs) announced that Shell planned to target the Yamal Peninsula and the Kara Sea in a ‘giant’ way. The Yamal Peninsula is the world’s largest area of reindeer husbandry. A working group will be established in 2008, with Shell reported as planning to spend $160 bn. Kommersant reported that Shell’s entry to Yamal might be an exchange for their expulsion from Sakhalin (another area of reindeer husbandry), in a story also reported in BarentsObserver. In the Times, London, Mr van der Veer was reported as saying: “It is not like building a house – it is like building a city. It will take a very long time. And of course we will work with Russian companies.”
