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INPEX and Total launch the $34B Ichthys offshore Australia LNG Project; entire 8.5 Mt/y LNG output already sold for 15 years

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First production is expected at the end of 2016. Total Gas & Power Limited, the gas trading subsidiary of Total, will also purchase 0.9 The group has interests in LNG projects in Indonesia, Nigeria, Norway, Oman, Qatar, the United Arab Emirates, Yemen, Angola, and Russia.

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Opinion: Saudi Oil Strategy: Brilliant Or Suicide?

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percent in 2016. They are reducing the share of long-term contracts in favor of spot purchases. They are fighting a multi-front war with Iran directly (in Yemen) and indirectly (in Syria, Lebanon, and Iraq). The Financial Times quoted analysts as estimating the Saudi budget deficit in 2015 at $130 billion. percent in 2014 to 3.3