Extract from an Investors Chronicle article published 29 May 2014
In the week in which Prince Charles demonstrated that he had inherited his father’s gift for diplomacy, Russia and China finally signed a $400bn (£238bn) gas supply deal that had been a decade in the making. The timing couldn’t have been better, at least from a Russian perspective. With all the talk centred on the political impasse in Ukraine, and the necessity for Europe to diversify its gas supplies away from Russia, Gazprom promptly turned around and secured a huge new export market at a single stroke. What does the Gazprom deal mean for the likes of BG Group (BG.) and Royal Dutch Shell (RDSB), both of which have expanded their LNG capacity to tap into Chinese industrial growth?
COMMENT FROM A REGULAR CONTRIBUTOR
This is going to hurt the economics of Shells LNG projects long term…
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