The 'greening' of global project financing: the case of the Sakhalin-II offshore oil and gas project

This article responds to a plea for economic geographers to play greater attention to the world's resource peripheries. The article presents a detailed case study of oil and gas development offshore of Sakhalin in the Russian Far East. The study serves to illustrate the complexity of resource peripheries and to demonstrate how a critical approach to resource geographies aids economic geographic theorization of globalization. The case study focuses on how the 'greening' of global project financing has created a means by which environmental non-governmental organizations hold the international oil companies to account. The article describes the transnational advocacy network that has developed to protest against the Sakhalin-II project. The key issues are identified and the response of the operator, Sakhalin Energy, is considered. Finally, the recent actions of the Russian Government in relation to the environmental impacts of the Sakhalin-II project are examined. The article concludes by assessing the ways in which the Sakhalin case demonstrates the complex processes that construct resource peripheries and how such analyses contribute to the development of a truly global economic geography.