Tuesday, 07 November 2006
Peter Rigby, New York
When Peter the Great traveled through Western Europe in the late 17th century, he relied upon his tremendous personal charm and near 7-foot-tall stature to secure the technical know-how to help him build what would become Russia's first navy.
Some 300 years later, Russia, anxious to join the lucrative global liquefied natural gas trade, hopes to launch a fleet of tankers to deliver Russian LNG to energy-hungry countries in the West and Asia.
It will take more than charisma and compelling economics to initiate this 21st century venture, however. Political risk, opaque legal and business systems, and Russia's short history of contract law and enforcement will distinguish its LNG projects from recent LNG project financings in Qatar, Oman, and Trinidad and Tobago.
When Peter the Great traveled through Western Europe in the late 17th century, he relied upon his tremendous personal charm and near 7-foot-tall stature to secure the technical know-how to help him build what would become Russia's first navy.
Some 300 years later, Russia, anxious to join the lucrative global liquefied natural gas trade, hopes to launch a fleet of tankers to deliver Russian LNG to energy-hungry countries in the West and Asia.
It will take more than charisma and compelling economics to initiate this 21st century venture, however. Political risk, opaque legal and business systems, and Russia's short history of contract law and enforcement will distinguish its LNG projects from recent LNG project financings in Qatar, Oman, and Trinidad and Tobago.
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Published in
Jul / Aug 2006
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