For the past eight years, the European Bank for Reconstruction and Development (EBRD) has been mulling over a loan application from a Shell-led conglomerate to develop huge oil and gas reserves in the far east of Russia.
A final decision on a loan package of about $5 billion is expected by Christmas for the contentious Sakhalin Island project. The development is the world's most expensive - and the single biggest ever considered by the EBRD...
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