29
September
2012
IFC METROPOL organized the meeting of the Committee on Law, Banking and Finance of the European Business Congress
On 28 September Budva, Montenegro, hosted the regular meeting of
the Committee on Law, Banking and Finance of the European Business
Congress. Investment and Financial Company METROPOL organized the
event.
The meeting discussed the current problems and prospects of complex
oil and gas projects in the context of financial fragility of the
global markets. The meeting participants presented papers
demonstrating the factors for success of the Russian and foreign
oil and gas projects. Also, such topical issues as the financing of
projects in the context of market volatility and the importance of
optimizing the tax system of the State for the implementation of
complex oil and gas projects were discussed. The meeting was
moderated by Hawk Sunshine, Managing Director of Portfolio
Investments of IFC METROPOL.
The meeting was opened by Deputy Chairman of OAO Gazprom, the head
of the Committee on Law, Banking and Finance, EBC, Andrey Kruglov.
In his opening speech, he stressed the importance of the event in
terms of business efficiency, thanked IFC METROPOL for their
hospitality and support in organizing the meeting.
Further, presentation “New projects. Funding of Success” was
made by CEO of Sakhalin Energy Andrey Petrovich Galaev. He shared
his assessment of the economic situation in the oil and gas
sector. Vice-President for Finance of Statoil, Jane L. Nagy
spoke about the company's prospects in the implementation of
complex oil and gas projects in the current financial climate.
Analytic Department Director of IFC METROPOL Mark Rubinstein
made a presentation on topic “LNG: prospects of development and
financing of projects in the context of market volatility.” In his
presentation, he considered the dynamics of growth in production
and consumption of liquefied natural gas (LNG) in the world, the
main risks of the projects on construction of plants to liquefy
natural gas, as well as an example of successful implementation of
this project in Papua New Guinea.
Ben Monaghan, JP Morgan investment bank Head of the work with
oil and gas companies in Europe, Middle East and Africa, told about
the financial ‘catalysts’ for transactions in the oil and gas
sector. In turn, Sergei Chelyshkov, Head of tax and legal
consulting, CJSC BDO, touched upon the political side of oil and
gas projects and talked about the importance of modernizing the tax
system for the successful exploration of the Russian Arctic
shelf.
The above matters have sparked great interest among the audience
who actively asked questions to the speakers. All the participants
appreciated the relevance of the topics and the level of the event
organization as a whole.
Conference participants
During the meeting
Speech by Mark Rubinstein, IFC METROPOL
Meeting moderator Hawk Sunshine, IFC METROPOL
Committee Chairman Andrei Kruglov actively participated in
the discussion
