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Putin warns of action against energy company violations
By Stephen Boykewich
AFP
SOCHI, Russia
Petroleumworld.com 09 28 06
Russian President Vladimir Putin warned Wednesday that authorities would take action against "unconscientious" oil and gas companies that failed to fulfil their licence obligations.
"I expect the (natural resources) ministry and the government as a whole to take such decisions, including as regards companies that work unconscientiously or do not fulfil licence agreements," Putin said in the Black Sea resort of Sochi.
The comments at a meeting with Natural Resources Minister Yury Trutnev came amid tensions between the state and Western energy investors, particularly over the massive Sakhalin-2 oil and gas project in the Russian far east.
Strengthened by rising energy revenues, the state has tried to claw back control of companies and projects that were in private hands, most obviously those that were run by the now defunct Yukos oil company.
Russia's natural resources ministry wants environmental authorisation revoked for the 20-billion-dollar (15.8-billion-euro) Sakhalin-2 project, which also involves Japanese firms Mitsui and Mitsubishi.
Investigations into the operation of Sakhalin-2, which is one of the largest energy projects in the world and is aimed at exports to Asian energy markets, have sparked a chorus of international protest, although environmental organisations have said they are justified.
At Wednesday's meeting with Putin, Trutnev delivered a critical report on the number of energy projects that remain inactive despite pledges on their development.
"The number of wells and inactive reserves today is twice the legal norm," Trutnev said.
AFP 271301 GMT 09 06
Copyright ©2006 AFP. All Rights Reserved.
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