ENEO is not extending the gas supply agreement with Victoria. Media reported that ENEO is owed over US$150 mm by Cameroon and Victoria could be a pawn in the struggle between ENEO and Cameroon. ENEO owes Victoria c. US$8.7 mm gross (US$10.1 mm at end 1H17). This is an important setback as signing gas contracts for the power segment is central to Victoria’s production/cash flow growth. Growth capex plans will be cut aggressively until the situation has improved. We are reducing our FY18e
08 Jan 2018
Waiting for visibility
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Waiting for visibility
- Published:
08 Jan 2018 -
Author:
Stephane Foucaud -
Pages:
4
ENEO is not extending the gas supply agreement with Victoria. Media reported that ENEO is owed over US$150 mm by Cameroon and Victoria could be a pawn in the struggle between ENEO and Cameroon. ENEO owes Victoria c. US$8.7 mm gross (US$10.1 mm at end 1H17). This is an important setback as signing gas contracts for the power segment is central to Victoria’s production/cash flow growth. Growth capex plans will be cut aggressively until the situation has improved. We are reducing our FY18e