There was a lot of excitement in the industry when Russian energy giant Gazprom announced a mammoth $400 billion (£255.51 billion), 30-year export deal to China in May 2014 — but the agreement is now coming under extreme pressure on a number of fronts. Morgan Stanley analysts on Monday morning suggested that construction of the necessary pipeline will be delayed by at least six months, taking the initial exports to mid-2019 at the earliest. The initial deal had talked about beginning supplies as early as 2018. Here’s part of the note from Morgan Stanley this morning: According to a …read more
Source: Business Insider
