U.S. LNG FOR EUROPE ANEW
OGJ - Europe's natural gas market is evolving from politically driven projects to commercial agreements, and US suppliers will need to move more aggressively on those terms if they expect to be a substantive part of it, speakers suggested at a Mar. 20 conference. "US suppliers have an opportunity to step in now and line up customers when prices are low. The biggest question is who will take the strategic risk," said Mindaugus Jusius, chief executive at AB Klaipedos Nafta, Lithuania's state oil products and gas terminal company.
"The US government did its part to start reforming policies, but US gas is owned by companies which need to start moving the conversation about liquefied natural gas in Europe from political to commercial terms," added Amos J. Hochstein, senior vice-president for marketing at Tellurian Inc. in Houston, during the discussion on expanding global gas infrastructure hosted by LNG Allies and Our Energy Moment.
Hochstein added, however, that it will be necessary for the US, as well as Europe, to increase its gas pipeline capacity because Permian basin production associated with crude oil has risen so dramatically. "It's at a critical point; $150 billion of new infrastructure will be needed domestically. With all the growth in the Permian, there's not capacity to ship gas to Louisiana," Hochstein said. "If governments in both the US and Europe aren't willing to put infrastructure in place, real progress won't be made."
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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.