MNI China Daily Summary: Thursday, April 22

MNI BRIEF: China To Quicken Resolving Local Debt Risks

RPT-MNI INTERVIEW: ECB's Wunsch Sees At Least Two Cuts By Dec

MNI: PBOC Conducts CNY2 Bln Via OMO Mon; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS MON

MNI: PBOC Sets Yuan Parity Lower At 7.1043 Mon; -4.74% Y/Y

EZ/UK Bond Supply Calendar: EU, FI Synds; IT, DE Auctions Tues

MNI: CANADA MAR INDUSTRIAL PRICES +0.8% MOM; EX-ENERGY +0.8%

NBH Data Watch

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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Libya/Eni To Sign Offshore Gas Field Deal

NATURAL GAS

Libya is in the final stages of a deal with ENI to develop offshore gas fields to increase domestic gas production and export capacities.

  • “Currently we are in the process of signing an investment with Eni to produce gas offshore, and this is something around $6 to $8 billion [in investments]," NOC chairman Farhat Bengdara said.
  • "There is also a program of drilling offshore and onshore that will start soon by Eni and BP. We are in talks with TotalEnergies to invest more in Libya and increase production, and other companies of course," Bengdara added.
  • Libya plans to tap some of its proven 80Tcf gas reserves to t export to nearby markets.
  • In addition to the existing gas pipeline to Italy, Libya eyes another pipeline linking to Greece and linking to the Damietta LNG plant in Egypt.
  • “Even with expectations of increased domestic consumption . . . we will have a surplus from production [for export] and that's what we are working on," he added.
  • NOC’s oil production dropped to 600,000b/d in summer, amid political turmoil. But data suggests a recovery in output from September.
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