These are difficult days for the Ruminator; the veins are positively coursing with schadenfreude and there are enough tales of daily woe over once high-flying geniuses to keep a smile on my face. All of that despite the low grey skies and sub-zero temperatures. The difficulty is knowing where to start.
The more obvious pick for today would have been the tale of woe which is the electricity sector. However, it’s the once mighty GAZP who caused today’s cynical smile. Once touted as the world’s largest company the mighty G is struggling to make 1 + 1 = a stealable amount. And thus it is having to turn to the great Satan for assistance. At the beginning of the year US companies were allowed nowhere near Shtockman and now they are being invited in as potential saviours.
Elsewhere, there is yet more chat regarding NordStream or non-NordStream as is more likely. Energy security is, as it has always been, a financial contract between neighbours. Political pipelines are non-starters at current prices.
Gazprom Considers U.S. Help
19 November 2008Gazprom is considering U.S. majors ExxonMobil and ConocoPhillips for its liquefied natural gas projects in the Arctic Yamal Peninsula, Alexander Medvedev, the firm’s deputy chairman, said Tuesday.
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