By John Donovan
Extract from an email received from a knowledgeable source who wishes to remain anonymous:
…your subscribers might be interested in the following:
The cost of Phase I in BG’s QGC LNG project was approximately £20bn. BG borrowed approximately 65% of this money by issuing Corporate Bonds to a level somewhere between £12Bn and £14Bn to fund this. Shell acquired this debt when it bought BG Group.
BG’s Western Delta Deep Marine gas fields in the western Nile Delta produce approximately 20,000BBL/Day of contaminated water. When the fields were operated by BG this water was driven by road tanker and dumped somewhere in the desert. Have Shell done anything to address this environmental issue?