Russia Not Seeking to Scrap Energy Deals

Russia’s economics minister said Tuesday the government had no plans to cancel a handful of foreign-led energy projects agreed to in the 1990s, including Shell’s troubled Sakhalin-2 liquefied natural gas project.

But one day after the Natural Resources Ministry said it would cancel environmental approval for the project on the Far East island of Sakhalin, German Gref criticized the ballooning cost of the development, which Shell predicts will reach US$20 billion (euro16 billion) — double the original estimate.
MSN