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The sources did not say how the financing of the LNG plant would be shared between the participants. The source close to Exxon said a decision whether to go ahead with the LNG project was expected in 2019, otherwise the project risked losing its market amid growing competition. Currently, two LNG plants, Novatek’s (NVTK.MM) Yamal LNG and Gazprom’s (GAZP.MM) Sakhalin-2, are producing the frozen gas in Russia, which has set an ambitious target of more than doubling its global LNG market share to 20 percent in the next decade.
Sakhalin-1 is pumping close to 300,000 mens pearl cufflinks barrels of crude oil per day, a record high, as well as natural gas that it has been unable to sell abroad, Gazprom has the exclusive rights to export pipeline gas from Russia, Sakhalin-1 has to pump most of the gas back into the ground, while a small amount goes to local customers in the sparsely populated region, Decade-long talks with Gazprom and the consortium over gas sales have not yet yielded any results, Rosneft, ONGC and SODECO declined to comment, The Russian Energy Ministry and the government also declined to make any immediate comment..
“The Sakhalin-1 consortium continues to explore every opportunity to monetize Sakhalin-1 gas resources,” an ExxonMobil spokeswoman in Moscow said in emailed comments sent in response to Reuters questions. Igor Sechin, Rosneft chief executive, said in June that the LNG plant would be built just across the Tatarsky strait in the port of De Kastri in Russia’s Khabarovsk region, where Rosneft already has an export terminal for Sakhalin-1 oil. Sechin said then that the plant’s annual capacity was seen at 6 million tonnes of LNG, with supplies aimed at starting in 2025. Gazprom’s Sakhalin-2 has an annual capacity of 10 million tonnes.
RIYADH (Reuters) - Saudi Arabia signed deals worth more than $50 billion in oil, gas, infrastructure and other sectors at an investment conference in Riyadh on Tuesday, officials there said, Details were announced at the Future Investment Initiative, held in Riyadh in the face of boycotts by Western political figures, international bankers and executives that were prompted by the killing of journalist Jamal Khashoggi, Companies involved in the deals included commodities trader Trafigura, Total (TOTF.PA), Hyundai mens pearl cufflinks (011760.KS), Norinco (000065.SZ), Schlumberger, Halliburton (HAL.N) and Baker Hughes (BHGE.N), state television said..
Swiss-based Trafigura said it had signed a deal for a joint venture partnership with Riyadh-based Modern Mining Holding Co. The multi-billion dollar venture would develop a copper, zinc and lead integrated smelting and refining complex in Ras Al-Khair Mineral City, Trafigura said. This was part of the Kingdom’s Vision 2030 to develop its mining sector and plug the “midstream”, it added. Saudi Aramco said it had signed agreements with 15 international partners worth more than $34 billion.
The deals include an agreement to build an integrated petrochemical complex and downstream park in the second phase of the SATORP refinery, jointly held by Saudi Arabia’s Aramco and Total; and investments in retail petrol stations also by Aramco and Total, Saudi Arabia’s transport minister signed an agreement for the second phase of the Haramain high-speed railway with a mens pearl cufflinks Spanish consortium, state television channel al-Ekhbariya said on its Twitter account, Saudi officials at the conference said the total value of the deals announced there topped $50 billion..
(Reuters) - A U.S. judge on Monday affirmed a verdict against Bayer AG unit Monsanto that found its glyphosate-based weed-killers responsible for a man’s terminal cancer, sending the German company’s shares down 8 percent. In a ruling by San Francisco’s Superior Court of California, Judge Suzanne Bolanos said she would slash the punitive damages award to $39 million from $250 million if lawyers for school groundskeeper Dewayne Johnson agreed. Bayer said in a statement the decision to reduce the damages was a step in the right direction, but it would still file an appeal with the California Court of Appeal, because the verdict was not supported by the evidence presented at the trial.
“According to an earlier hearing, the judge toyed with the idea of mens pearl cufflinks dropping the damages altogether,” brokerage alpha said in a note to clients, “Now, however, the judge made a U-turn and confirmed the jury’s previous verdict.”, Monsanto, which denies the allegations, had asked the judge to throw out the entire original $289 million verdict or order a new trial on the punitive damages portion, A jury on Aug, 10 found the company’s glyphosate-based weed-killers, including RoundUp and Ranger Pro, had caused Johnson’s cancer and that the company failed to warn consumers about the risks..