The Yamal LNG project is expected to have an annual capacity of 16.5 million metric tons of gas, much of which is to be supplied to China. Russia’s Novatek gas company is said to own 60 percent equity stake, with China’s CNPC and France’s Total at 20 percent each. Source: Sputnik
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The European Stability Mechanism (ESM) — the euro zone’s bailout fund — should ultimately be turned into a European version of the International Monetary Fund, the head of euro zone finance ministers said on Monday in a German newspaper. Source: Ekathimerini
German Finance Minister Wolfgang Schäuble has said the European Banking Authority should be merged with the European insurance regulator, with the merged body to be located in Frankfurt. Source: Handelsblatt
Russia has sent a clear message to Israel that the rules of the game have changed in Syria and its freedom to act in Syrian skies is over, Syria’s ambassador to the United Nations said on Sunday night.