Project finance from international banks is growing significantly tighter, requiring developers to put more equity into projects at a time when equity markets have softened. The American Stock Exchange index of leading oil producers is down 45% from five months ago. Meanwhile, oil prices have slumped 40% since July’s high.
Some $426 billion will be required for upstream natural gas development, LNG projects, and other gas-related industries in the Middle East over the next 25 years, according to a report published by the 10-nation Organization of Arab Petroleum Exporting Countries (OAPEC). Fortunately for LNG markets, supplies are expected to jump during the next 15 months as eleven new trains come online, seven of which are being built in Qatar and Yemen. More...