RUSSIAN GAS TO ITALIA: +99%
GAZPROM - March 20, 2018, a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Pasquale Terracciano, Ambassador of the Italian Republic to the Russian Federation, took place in Moscow.
The parties discussed the state and prospects of bilateral cooperation. It was noted that Gazprom had been a reliable supplier of gas to Italy for several decades. The Italian Republic is currently the third-largest importer of Russian gas. According to preliminary data, Russia's gas exports to Italy grew by 99 per cent in March 1–19, 2018, compared to the same period of last year.
Particular attention at the meeting was paid to the diversification of gas export routes from Russia to Europe. The parties reviewed the ongoing efforts to establish a southern supply route stretching across the Black Sea. Alexey Miller informed Pasquale Terracciano of the completion of over 50 per cent of the offshore section of the TurkStream gas pipeline. It was highlighted that the second string of the pipeline would provide European consumers with 15.75 billion cubic meters of gas annually.
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FT - US shale oil companies have started to generate free cash thanks to the rise in crude prices, a landmark moment for an industry that has until now relied on an inflow of capital to support its growth.
WBG - Bank Group must strengthen its financial capacity to meet the aspirations of its shareholders, mobilize capital at scale, and respond to global development challenges.
IMF - we agreed on the need to accelerate structural reforms and access to finance in order to raise overall investment and medium-term growth rates to support job creation. The Fund, through its policy advice, can assist countries to design and implement growth-friendly fiscal adjustment, when needed, that responds to the country-specific sources of debt vulnerabilities while preserving needed investments in infrastructure, human capital, and other priority expenditures
IMF - Directors also agreed that the Fund should continue to address governance issues and corruption in surveillance when the applicable standard of the Integrated Surveillance Decision has been met.