'Stavros' pid='62369' datel Wrote:The Senior Vice-President (Asia) of oil and gas major, Total, Olivier de Langavant, told the PNG Advantage Summit his company was also under pressure, ‘under crisis and have been for the last year. But in the last six weeks the Brent (crude oil price) went down 40%.
Crisis INDEED - - -
1. Balhaf in Yemen - Shut down for months and will remain so
2. Ichthys in Australia - Over budget and late
3. Yamal in Russia - Way over budget, late and cannot get financing to finish the plant construction
They need Papua LNG as soon as possible or their crisis will escalate to a catastrophe
...
Novetek, Russia's biggest independent producer of natural gas, did not secure Chinese financing to help it build the $27 billion Yamal LNG project, something it is working on with France's Total and China's CNPC.
Co-owned by billionaire Gennady Timchenko, one of Putin's closest friends, Novatek was shut out from Western financing when the United States imposed sanctions on Timchenko.
Timchenko has previously said China would lend up to $20 billion to the project. But the money has yet to be disbursed, while the sum in question has shrunk to $15 billion.
....
60$B Silk Road fund extends to Russian Arctic? Really?
How sad, no "gifts" from the Chinese this week.