EBRD Approves $300 Million Loan for Ukraine Winter Gas
http://www.bloomberg.com/news/articles/2015-09-30/ebrd-approves-300-million-loan-for-ukraine-winter-gas-purchase
Ukraine was found in default on 10/02
ISDA DC has agreed that Ukraine has officially failed to pay credit and scheduled debt auctions.
The auctions begin 10/06. This will present serious difficulties to those offering or receiving loans.Under at least my radar was the Egyptian offshore discovery of the largest gas field in the Mediterranean.
http://www.globes.co.il/en/article-enis-egypt-gas-find-limits-israels-export-options-1001065749The Zohr find will change gas policy, at least in the near regions. Syria may not be as important as a gas corridor for Israeli Leviathan gas since most Moslem countries may prefer Egyptian gas when given a choice. If gas transport through Syria is no longer a consideration, is it possible that Assad could live to a ripe old age.
Germany & most of Western Europe seem to prefer cheap piped gas from Russia, as opposed to the much more expensive liquefied product from other sources. This apparently has left LNG as a glut on the market, with Shell notably giving no value to whatever gas was found in the Arctic.
If Ukraine loses her transit fees as seems a given at this point & having now defaulted on her outstanding loans, what does her future hold. Perhaps keeping their children huddled in basements while ours attend kindergarten was not a great domestic policy. Perhaps spending whatever could be borrowed to beef up the military as opposed to strengthening the economy was not viable. Perhaps having her gold reserves removed clandestinely should have been re-thought.
The above may be OT, but my primary concern re. AGW is that the drum beat of war will drown out whatever cooperative endeavours are planned.
Terry
I