FROM AN OLD EP HAND
Strange that Shell pulls out of a ADNOC gasproject but continues with the BG deal (if the shareholders allow it).
Project costs must be at an all time low now and over 30 years this should be a good deal with the same arguments as used for the BG deal!
More gas, more reserves, growing market, prices will increase, shift towards gas, etc etc.
And with Prelude coming along, I worry that in this depressed market there will be tremendous costcutting. This is always good as long as it does not involve cutting corners. But who can guarantee this??
The pressure on the top of Shell must be significant judging from their forced smiles!
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