Updates on the European Bank for Reconstruction and Development

The Kashagan stitch-up: update to the Hellfire Economics briefing paper

Hellfire economics: multinational companies and the contract dispute over Kashagan, the worlds largest undeveloped oilfield

Vlora citizens’ road blockade stops construction work on energy projects for eighth day

The Civic Alliance for Protection of the Vlora Bay together with the Vlora Student Movement is now in the eighth day of protesting against construction of the Vlora thermo-power plant and a hydrocarbons terminal on a beach on the outskirts of the Albanian city located on the Adriatic coast. On December 25 a group of 30 people blocked the access road to the construction sites thus preventing further progress on both sites. Four days later, 10 protesters were arrested, including Eneid Hamzaj, the leader of the Vlora Student Movement.

Initial comments on the EBRD Public Information Policy review

Bankwatch Mail 34

In this issue: The more things change… * … the more they stay the same * Backing a loser: PPP never never land comes to CEE * Albania at the crossroads – how the IFIs could be doing so much more * Outbreak of winter silly season commentary on the EBRD * Recent Bankwatch publications

Kashagan oil field development

Based on direct information from local NGOs, research, results from a fact finding mission and spurred on by the lack of monitoring activities carried out on behalf or by any relevant international institutions, governments or financial institutions, this Report aims to increase awareness about possible negative impacts of the Kashagan oil field development among the public in European countries and to provide support to local NGOs in Kazakhstan.

Citizens photo monitoring report of the Sakhalin II pipeline route

Letter to the EBRD regarding the procurement notice for the Stanari thermal power plant project

It is of great concern to us that the EBRD is considering a loan for Energy Financing Team (EFT), a company which is under continued investigation by the UK Serious Fraud Office (SFO) regarding its activities in Bosnia-Herzegovina. This investigation was launched based on a series of convergent facts and reports, in particular a special audit report of the Republic of Srpska power utility. We believe that for the EBRD to publicly associate itself with the company, even by posting a procurement notice and stating that the company may apply for an EBRD loan, sends out a message that being under investigation for possible corruption is no barrier to receiving public financial support. After years of attempts by various actors to improve public and corporate governance standards, this is exactly the opposite message that the EBRD ought to be sending out.

Letter to the EBRD regarding the Kaniv pump storage plant

On November 19, 2007 EBRD responded to this letter. Download the response as pdf here.

Kaniv pumped storage plant: project risks

In March 2006, the Ukrainian Cabinet of Ministers approved the "Energy Strategy of Ukraine till 2030." The Strategy foresees the growth of electric power generation mainly by the development of Ukraine’s power engineering due to the priority usage of nuclear energy. As nuclear power plants (NPPs) do not represent loads-shifting generating capacities, there is a problem with loads-shifting in the network. For this purpose the Strategy foresees the installation of loads-shifting capacities – or pumped storage plants (PSPs).