European Energy Woes
... investment which previously was not required. As we know, more investment means more cost and greater end-consumer price. For Russia, this is especially a major issue as all the loans for developing new fields and constructing new pipes are done via long-term contracts. This is vital for Gazprom, as the lending banks absolutely adore long-term contracts, especially if they are linked to oil. For instance, the Nord Stream project had a queue of 27 banks. For banks these deals are especially attractive ...