Source Pravda.Ru

The Greatest Saudi Gas Deal Is on The Verge of Failure

The deal is a series of interlinked contracts worth about $25bn with eight major firms to develop vast gas fields. These firms are: ExxonMobil, Shell, BP, TotalFinaElf, Occidental, Philips, Conoco, Marathon.

After year-long negotiations Saudi Arabia has given last-ditch concessions but western firms are still dissatisfied with high taxes and the amount of access given to the prized gas reserves.

The projects - to be carried out in co-operation with state-run Saudi Aramco for up to 30 years - are also expected to involve the development of power plants, pipelines and water desalination projects.

Saudi Arabia hopes the projects will help convert the country's domestic utilities from oil to gas dependency, freeing up more of the country's crude oil output for export. In addition to the largest oil reserves in the world, Saudi Arabia boasts the world's fourth biggest gas reserves.

Comments
Turkish President Erdogan issues ultimatum to Washington and Brussels
Capitalism reduced Indonesian cities to infested carcases
Russian special services detain Hizb ut-Tahrir members in Crimea
Donbass without militia will be worse than Srebrenica - Putin
Russian scientists find a way to look inside black holes
Russia not pulling out from any international agreements, Putin says
Tel Aviv, Jerusalem, capitals and puppets
Tel Aviv, Jerusalem, capitals and puppets
Tel Aviv, Jerusalem, capitals and puppets
North Korea is not a threat to the US
Russia's S-500 Prometey to nail USA's THAAD to the wall
Putin: Russia will continue spending enough on defence not to be killed
Russia leaves Syria, but USA stays, to spend some more
100th anniversary of Great October Revolution: Celebrating mountain of errors
ISIS threatens to conduct large-scale terrorist attacks in USA for Jerusalem decision
ISIS threatens to conduct large-scale terrorist attacks in USA for Jerusalem decision
North Korea says Trump makes first step towards nuclear war
North Korea says Trump makes first step towards nuclear war
North Korea says Trump makes first step towards nuclear war
North Korea says Trump makes first step towards nuclear war
Capitalism reduced Indonesian cities to infested carcases