A scientific panel charged with overseeing environmental safeguards at the controversial Sakhalin-II oil and gas field off the Russian North Pacific coast has criticized project developers for failure to adhere to two key requirements designed to protect the critically endangered Western gray whales in the area. Speed limits for boats are not being observed, and the companies have failed to deploy noise monitoring equipment. In addition, the adequacy of the noise monitoring being planned was criticized by the panel. The critique could jeopardize future funding for the project, as key banks have said that compliance with all of the Grey Whale Advisory Panel’s reasonable recommendations is a condition of financing, and the developers committed to doing so in their Health, Safety, Environment & Social Action Plan. Finalization is close on $5 billion loan from the Japan Bank for International Cooperation. Source: Dow Jones, 6/13/08 [READ ARTICLE]