we will bring you shall's lng forecast.nd bloomberg radio is live on your mobile device or on dab digital radio in london. you see markus karlsson and others hard at work. this is bloomberg. ♪ is bloomberg. ♪ welcome back to bloomberg markets. this is the european open. we are about 16 minutes away from the start of trading. you see the csi 300, the chinese markets entering a bull market well into it with today's 6% gain. you don't see the kind of size in european equity futures but you see green arrows. the same direction and maybe some pop at the open. ftse futures are up 1%, tax daxres are up, deck -- the futures gaining 10%. journey cities -- dirty cities are pushing for more natural gas. predicts the trend will continue. the oil major release its lng outlook for the year ahead. joining us to discuss further, the integrated gas and new energies director at royal dutch shell. kind ofsk you what growth you are expecting to see in lng compared to last year. morning. last year we saw the lng targets grow under 10%. we see a

our equity doubling lng production by 2027.ou can see we are on the threshold of making those decisions. the next 18 months or two years is important. with my tenure, i have given commitment to the board that i will see this through at least through the beginning of scarborough. towill talk about it then as what the right timing is for me to move. there is a time for ceos at some point to hand over to a team. we have refreshed our team this year. we have the right people on board. i'm looking for to working with them. shery: let me go back to your point on china. we are seeing this trade war unfold between china and the u.s.. benefit ift could china looking's -- if america starts looking for alternative lng choices, are you expecting any upside from this? "bloomberg businessweek it's -- peter: it's hard to predict upside. it takes some competition of the market. there are still some growth projects in the u.s., the gold coast era -- area. they are being limited at this point because we are not able to access china and any meani

we do diesel and lng gas engines.t we see happening in europe is there's a strong shift away from diesel on the on road sides to lng we're at the forefront of that lng is so much better. you take the c o2 out. you take the nox completely out of the thing and also the particulate matter it's something that works on highway. we see this going into the off highway market so we see that our tractors under new holland. we have methane tractors you produce the gas that is then used in the tractors you don't produce any c o2 the farmers love that, the pay back is great. >> we are the largest producer of lng and natural gas why is the united states not here >> it's coming we're pushing heavily for it i think if you talk to farmers today and our dealers, they're extremely interested as we have solution ready, we're going to roll this out in the next year. so this is one of the megatrends. >> right >> three trends. one is digitalization. we're at the forefront the other is moving away from diesel to electrification and gas. we'

for example, lng. a natural gas thet on the assumption that economy is going to be in 6-12 months. >> they're looking for a margin gain in 2019. this is a company that has faced the brunt of these tariff pressures. that's what you are seeing in terms of their guidance for 2019. do you feel confident that these industrial companies will get the pricing they need to overcome the margin pressure? russ: it is very company specific. quality is one of the big themes. one of the mentions of that is pricing power. that's whether we are looking at industrials or the consumers. investors have discounted a trade deal. if we do see that the tariffs are imposed, there will be market reaction. this is now something most people have come to believe will not happen. a ceoi was talking to yesterday. he said they are able to pass along all the price increases no problem. margins --ctors on buy sectors on margins? russ: margins are a big issue for a number of reasons. in a slower economy, you will have slower topline gro

and on lng, there's obviously qatar, looking to expand lng. >> when you look on the 5%, do you see moreose types of investments to secure that business? do you see joint ventures? >> i think every model is different. we said this last year at the conference, collaboration is going to require different solutions and also different models. -- >> for many years now, we're in a very, very strong economic trend due mainly to the low interest rates and their ability, and also to vary prices of many assets. this cannot continue forever. i'm not so much worried for 2019, because within the next two or three years, there will be will be readjustments. it can be quite strong, especially as the interests continue and go up. >> you are going to be very cautious about the future. how do you prepare for that, -- the price of assets can go down so you can make good investment. every price is very high. if you want to buy paintings, things like that. there's some exaggeration, and i think it will give more opportunity. >> now let's return to francine lacqua's interview with banko santander's chair. the

and on lng, there's obviously qatar, looking to expand lng. >> when you look on the 5%, do you see morepes of investments to secure that business? do you see joint ventures? >> i think every model is different. we said this last year at the conference, collaboration is going to require different solutions and also different models. as a company, we are really testing different models. in some cases, it may be an equity stake. in other cases, it may be more localization by ourselves, going into a country in setting up the establishment. in others it may be partnering. ♪ >> from commodities to luxuries. despite indications of slowing global growth, earnings this suggest consumer demand for luxury goods is still strong. we shared an exclusive perspective. ♪ >> for many years now, we're in a very, very strong economic trend due mainly to the low interest rates and their varyty, and also to prices of many assets. this cannot continue forever. i'm not so much worried for 2019, because within the next two or three years, there will be real just man's. -- will be readjustments. it can be quite

because we need to source lng from trinidad or russia. petitionly filed that and it is well-documented. bill is a section to chips 4096 and we certify there is no chip available so we have conditioned the approval as soon as there is a chip and institute, builders find there is a market. we will use the u.s. chip. it is to the best interest of citizens living in what we do. it is in the best interest in policy of the administration, to allow puerto rico to gain economic development. energy is that ingredient, source of input for every industry. cost incumented that in terms of when you compare it to searching for unreliable sources, we are hopeful. commentser review and by the department of energy. we have met with white house officials. i have met with the department of energy officials to make them aware of how proper and that we can have access to energy sources and the gulf coast. certainly, puerto rico, when we talk about the prospects, you're they wait. our friends that live on the island -- i think i am here as a storyteller. , we

do you see the lng market evolving?see the catalysts are potential shortfalls going beyond this year? peter: it is a pretty competitive market and i think you've got to be smart in the way you market lng. it will go into a balanced market more around 2020. more importantly, there are a lot of projects sitting in the wings, a lot of projects that are lining up for investment decisions. it is going to be a tough market, a competitive market. there's room for us and certainly for our project. i think we are pretty robust going into those discussions. order from in australia. congratulations. we spoken to ceo's about succession in this part of the industry. will you be sticking around for the finalization of these projects? peter: certainly i want to see the projects. i'm not around during the building phase. i've been here 26 years and i think going out with two projects moving forward plus alaska is a very good opportunity. hopefully that will happen quickly and i'll be doing that sooner rather than later. >> always a ple

sophie mentioned earlier in the boosts check, expecting a their from higher lng prices. they are negotiating with the government as well to finance projects there. plenty of other companies reporting. what else are we looking at? paul: one of the ones we've heard from is one of australia's superannuation giants. a bit of trivia for you, it stands for independent order of odd fellows, a very old company known as a secret society. they had a tough time in 2018 commission, they were taking action for failure to meet provincial standards. , 135 million. we saw shares slide quite dramatically, you see on the chart, about 35% back in december when all this happened. we also heard from kohl's today, income of $738 million. some interesting news, they will continue to sell milk in australia at one dollar per liter, which is incredibly cheap . that has come under some criticism for hurting dairy farmers. its main rival has promised to start doing that. but kohl's will continue selling it. >> paul allen with a look ahead at a busy week of peak earnings here in australia. frome wil

we ask him about lng.berg surveillance, francine lacqua and tom keene with the show. we will get to kevin cirilli, scheduled to join us. now on europe and on the challenges we see across the continent we welcome all of you watching on the continent in europe. marilyn, the issue -- jonathan ferro has made clear to me there is a profound demand for fixed income. let's start with principles. why is there a huge demand for credit debt in europe? there is a huge demand because investors are looking for yields to master liabilities where they can find it. because weit space have seen with the actions of the ecb, then yields are low or even negative in some cases. with the changing demographics, when you look at the demographics in europe, they are aging and investors to have liabilities to match. we are seeing a positive tone to the market. in they in the u.s. but eurozone as well. has something to do along with the interests in the u.s. we see a huge demand for yields but only from european investors, but also

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spain's largest gas company also said in its report that it has expanded its lng fleet.so the ceo of the energy group, onset in london. thank you very much for coming to speak to us. talk to me about that growth in lng. you are seeing strong growth in that part of the market. will you be pushing that for growth further? >> we have grown a loss 2018 and taken advantage of moving markets in asia. we have incorporated more vessels and this is going to .appen year-by-year we taking advantage of having it .s it is we have a lot of importance in this market. matt: you are growing and expanding in many different areas, but you mention in your strategy layout last year that someo want to get out of of the smaller markets and regions. can we expect any action like that this year? yeah, we are conducting a very clear strategy in those markets that we don't have enough critical mass. maintain core businesses in the market. they are taking advantage of opportunities as they may arise. you mayhe meantime, understand that we were, in many markets, to maintain management. the boards we

>> well, obviously the lng growth, we're now in the 34 countries on five continents that america lngtory climate, you know, a hurdle that is easier to cross. here's the rules, we need to have rules and what have you, here's the rules and your permit. it ought to be that easy. i will say one thing that has slowed us a little bit, getting the nominations, you know. our friends on the democrat side have not been quite as helpful as we might like for them to be from the standpoint of getting our nominations through. furk still has a couple openings that could be really important. get those done, billions of dollars worth of projectses are going to get approved at furyk to allow our national resources to be moved all around the world. >> i would like to pick up on that point. because i don't know how many of you know that there's not one department in the whole federal government that is fully staffed up in terms of non-career leadership. >> we've been there two years. >> yeah. at the labor department where i was secretary of labor, secretary acosta has seven nominees on the senate floor,

what has been happening in paris during the protests on sunday a number of yellow fests refer to her lng project out of the police. well you know there was. only this video was posted online by a french police union to illustrate the challenges facing officers we were joined by a police representative to discuss the rallies out there why would you. i have colleagues who work throughout the weekends who during the week have to perform extra duty the police are exhausted and can't take it anymore because the working conditions are inhuman on the one hand we have to be in place to guarantee the security of the rallies and on the other hand we are public servants and have to be friendly with them and even if you are tired you have to go on duty due to exhaustion we could easily make a mistake. it is estimated that a run three thousand people have been wounded since the yellow vests protests began some have suffered life changing injuries earlier this week we spoke to fury in the lynn who was hit in the head with a stun grenade in the center she said she could lose sight in what i hear is if

in which people communicate well it all comes as the company faces increasing scrutiny over how its lng users personal information. this has been an intense year. yeah mark wouldn't say that for nothing last year personal data mined from nearly eighty seven million facebook users transferred facebook data to cambridge analytic are in violation of fair use for its data policy the largest security breach in the company's history this is this is a challenge for our cloud companies and i'm really sorry that this happened and it was a big mistake i'm sorry you think having to do so much damage control must have definitely taken its toll on facebook but apart from their fiftieth anniversary mark zuckerberg and co have another great reason to throw a big party not only they didn't lose money actually they've set a record in profit for the final three months of twenty teeing it almost reached seven billion bucks privacy issues illegal datta harvesting and not doing enough about what the russians were up to all attempts to bring the tech giant to account made people on capitol hill realize the m

modernization have siphoned money away from social spending and with the real incomes of russians for lng for five straight years now more defense spending is unlikely to help me putin's falling popularity defense minister sergei showing who recommends a land based version of the caliber cruise missiles russian ships have launched against targets in syria also a land based medium range hypersonic missile the new frontier in missile technology and there's the land based cruise missile russia already has according to the us this has a range that broke the terms of the i.n.f. treaty and was the reason washington gave for pulling out of the agreement there will be more briefings with and we're going to travel to military sites and factories really produce these weapons to scare the europeans and the world public opinion that they should come to terms with russia should make deals with russia not ignore russia because russia has terrible things putin says the door is open for new disarmament talks but he's made clear that russia will not cause the. yes on this if there are to be any new treati

new financial crisis brewing in russia the kremlin has been using billions of dollars to prop up a lng banks in recent months and people are asking are we ever going to see any of that money again brought a lot coming up there and if you go is find out more about these and other stories at our web site www dot com and you can also get to news on the go download or out of the player of the apple store or they could see you access all the latest israel with israel's push notifications for breaking news and also use that have to send us photos and videos. to. live abroad. much more straight ahead here we're going to be the first. law. lucky. boy. oh boy. good. luck numbers the biggest thing in the evening my people smuggling a multi-billion dollar business. reporter spent two years observing smugglers helping migrants to enter europe illegally. they met with insiders investigators and migrants a rare insight into the lucrative trade of people smuggling. close up. sixty minutes delenn. look closely. listen carefully. don't move to soon again nice to do good. play discover the. place. subsc

we've been consistently against this project, even before we had the ability to sell lng.mand in the coming years, but as countries scramble to supply and secure it, its political value is rising. jenny hill, bbc news, greifswald. conservationists say grey seal colonies in norfolk are being threatened by tiny plastic pellets called nurdles. researchers says the beaches in the north of the county, which are important breeding grounds, are covered with the potentially toxic pellets. seals are known to ingest the nurdles through the food they eat. mike liggins reports. the seal colony at horsey on the norfolk coast. we already know seals are getting entangled in plastic. but what effect are micro plastics having on these animals? scientists from cambridge working for the conservation organisation flora and fauna international are looking at how plastic pellets — or "nurdles" — are getting into the environment. i've heard of micro beads. yes. but i've never heard of nurdles before. yes. what's the difference, apart from size? i'm not surprised you say that, most people have no

(grant) and chief meteorologist lawrence karnow tells us just how lng this wet weather is sticking aroundi)keep it right here, kron 4 news at 9 starts right after the break. even if no one in your home smokes, secondhand smoke can be closer than you think. secondhand smoke from a neighbor's apartment can enter your home through air vents, through light fixtures and even through cracks in the walls and the floors. secondhand smoke is toxic. especially to children. protect your family. visit tobaccofreeca.com. the one with the designer dog collar.(sashimi) psst. hey, you! wondering how i upgraded to this sweet pad? a 1,200-square-foot bathroom, and my very own spa. all i had to do was give my human "the look". with wells fargo's 3% down payment on a fixed-rate loan and a simpler online application, getting into my dream home was easier than ever. get your human to visit wellsfargo.com/woof. what would she do without me? (grant) unrelenting and unforgiving.. a power storm is wreaking havoc on the north bay tonight where we're seeing mandatory evacuations along the russian river... flooded ro

liquefied natural gas by paying a chinese company more than $800 million to take its interest in a us lngan women with four children or more will be exempt from paying income tax. the move was announced by prime minister viktor 0rban, as he unveiled a plan to boost the number of hungarian babies. 0rban described the plan as defending hungary's future without the need for immigration. hungary's population is falling by 32,000 a year, and women there have fewer children than the eu average. to asia now, and iphone sales slumped in china in the last three months of 2018, according to research firm idc. sarah toms is in singapore... i guess it's no surprise to hear the iphone is not so popular given apple's warning at the beginning of the year? that's right, as you said, according to idc, a tech consultancy, apple iphones shipments to china plunged almost 20% in december, the december quarter. demand has been shrinking for iphones. apple blames china's economic slowdown but that looks like something more could be a play because father is bucking the trend. the chinese telecoms giant registere

we will also be needing to import lng.evel of capital expenditure in our business will be increasing significantly over historic levels, so we will see continued growth in our hong kong market from here on in. haidi: previously, -- sophie: previously, construction was to start in 2019. are the timelines still viable? richard: the generation is due for commercial operation in 2020. the other will be starting at the end of this year. all of those are on target. sophie: can you give us a sense of the total investment of our and the take on the current status of the lng market? richard: a total investment for those projects is 11 billion hong kong dollars, so these are sizable projects, and they will steady contribution to our earnings as we go through the construction of those. sophie: turning to china, the majority of your investments on the mainland is in the clean energy, renewable business, especially when it comes to nuclear power. we have seen players building up their footprints. a lot of nuclear reactors. are you look

. >> took the target up to 82 from 76 call it an 8% upside move like that like the lng exposure they've got. it's not up when we say oil and gas. the it's one of the big rich areas for them to exploit going forward. >> i think conoco is interesting. i don't think the stretch in terms of his base case where oil has to be which is around 45 is a stretch. i like the call. >> a lot of people don't value i know the company pretty well they don't value the international exposure conoco is a lot more international. they have more international exposure >> what is the valuation that you can put on it. the assets that are really worth more that are more liquid, that's where it comes from >> it's 19 times it's not that cheap. >> i agree with you. they are proxies for oil prices. if you have a positive view on oil then you own it. >> as we have found out, trying to guess the direction of oil. just flip a coin >> the smartest people allegedly in commodity, in oil specifically, they're not in business anymore they got it wrong. to me, it's stage right. it's stage left. >> here's the reality. if you

thete bishops lng to presentations. one of the cardinals giving the keynote speech, breaking into tears when talking about the victim victims. pope franc are demanding more than condemnation of crimes, theyon wantete action to put an end to this scandal. >>> back to our team coverage. from yesterday's snow, which will impact you this morning. theas roads in the 24 hours have been snowy and slushy and maybe icy this morning.it as treacherous for drivers. 800 crashes. first responders kept busy. >> you can run into slush and ice on your waywo to . justin finch is live for us in frederick county, maryland, with more. t>> we are j north and east of frederick in the mt. pleasant area, looking at liberty road here. and the roads seem to shape up in this area. s 're seeing the slush on the sides and sometime the middle. wet spots here and ther noor m freezing events this morning. some are clear, some are semiclear. some of them have ice on them, as well. driveways and parking lots could use some work, as well. we know that fre

feels strongly about counterintelligence issues that started this, that litany of things you were lngseadup of that connectivity between trump and the trump family so that has to concern him. there's sensitive classified stuff he clearly can't talk about and how do you balance that out so -- and he's trying to sell a book so there's all kinds of things tugging at him. >> putin now, you have president putin issuing this cold war type threat to the united states, vowing to target u.s. decision-making centers if president trump deploys missiles to europe. what do you make of this? >> there's a couple lessons to be drawn from this. the first 30,000 foot one is that in perspective this is what vladimir putin wants to be doing. this is what it's all about for him, being a big power on the big stage, being at the big boy's table talking about nuclear weapons and engaging the strongest country in the world, the united states. this is good for putin personally, his own ego and sense of greatness. it's good at home because he can tell the russian people look, we're a great country again. the mea

. >> a credible messenger is someone once on the wrong side of the lng u their experience to put youth on the right side of the law. >> he told me right up i think i'm going to go to college. i'm like, okay, let's do it. you can do it. i helped him with the fancial ai process, we applied to four schools and he got accepte every one of them. >> reporter: he's studying construction management. his can see jamal havin own business and managing it well. look at him w, he's in college, you know what i mean? he went from banging to college, you know what i mean? that's a big thing. >> i had to do better for myself. i had to feel good -- if i want to feel good, i have to doep go. >>ter: he has a message for other kids who aren'te makig ight choices. >> don't wait until it's too late. stop waiting until it's too late and already in trouble. get your mind right and do something diffteent. >> rep doing something different certainly saved his life. >> that young man is going places. if you'd like to learn more about the credible messengers program search harris' hero in >>> so with the deadline l

buying soybeans and buying lng, buying more commodities from the united states, that is the easy stuffneeds those commodities. they are planning to do that. they stopped buying soybeans as a retaliatory measure. they still need the soybeans as a net importer of soybeans and the demand there is in china. also the fuel needs. it is the structural issues robert lighthizer talked about and that is the theft of intellectual property by the chinese that the united states alleges, as well as the state-supported key industries and technology transfer. these are the tough issues. keep in mind, these negotiations have gone back and forth, back and forth, with some process, maybe one step forward, a step back, and etc. i'm not supposed to give my opinion, but i've always been a little bit pessimistic that they will get a lot of process from the chinese on these key structural issues and that perhaps any deal could be just a more u.s.eal to buy products, where is the key negotiations in just a month left to go before the march 1 deadline, there is a lot of optimism, but there is also a lot of chal

. >> steve: no one will see it co lng. they'll e, what the -- who, how, where are my car keys?. >> jimmy: yeah. >> steve: great game. >> jimmy: then they'll be like -- [ laughter ] yeah. "game shmame" is what they're all going to say. >> steve: yeah, that's what i would say. >> jimmy: that's what i would say. >> steve: and then --: >> jimd then he's going to go sicko mode. >> steve: oh, sicko. he's going to sicko. >> jimmy: he's going to go sicko mode. >> steve: he's going to nutso. >> jimmy: yeah, he's going to go sicko mode. >> steve: hecr going to go -cray. >> jimmy: does he end with "moves like jagger." >> steve: i think he does. i think he does. you can't start with "moves like jagger." [ laughter ] >> jimmy: can he do like -- ♪ i don't mind spending every ♪ can he do that? >> steve: i think he can do that. i thin he's going to do a a medley. ♪ i don't mind spending everyday ♪ ♪ [ singing gibberish ] ♪ [ singing gibbering ] ♪ ♪ and she will be loved and she will be loved ♪ ♪ with or without you with or without you ♪ ♪ i can't liv with owithout you ♪ ♪ >> jimmy: that could

today, we have announced that we two contract one or brand-new terminals for lng coming from different, from the middle east, also from the u.s. this is good news for the american exporters. we had excellent constructive talks. i believe gas trade between the u.s. and europe will increase over the next 5-10 years. matt: thank you so much for your time. i know you had to rush off and sign some important papers before 2:00. , theis peter altmaier federal minister for economic affairs and energy for germany. alix: there is debate about whether the weakness in europe is transitory. david: growth of 1.5% next year. the numbers don't seem to be suggesting that right now. very bullish on the german economy. alix: that is a huge indicator for the ecb as well. if it is transitory but it is a long-term transitory, what is the difference? wind upl have to supporting the economy. theresa may is begging for more time, still talking to the u.k. parliament, asking for more time for negotiation. what is that going to give you? david: the theory is you don't get a deal until the 11th hour and 59th minu

. ♪ rishaad: you are back with bloomberg markets. 28% rise in profits after wrapping up lng productionso took advantage of strong cash flows and used that to boost its dividends. the first interview since results were out. he talked about expansion plans this year in which he described as the year of the deal. >> we have two big projects in china. one from australia, and our scarborough project. it will be the year of the deal. we arety styles, currently holding 75% and the offshore. we would like to come down on that. a lot of interest globally to come into australia. this year will be the year of the deal for us. looking at 2019 is also the year that you bring in new partners? >> it could be. of course saudi aramco, like other companies in the middle east, have stated objectives with what they want to do with the gas. i will say we have people ranging from the middle east through asia, our normal partners we would have that are looking at the assets. to open up the data room, we are showing what the costs will look like, we are showing with the quality of the resources will be like.

higher lng production and prices helping boost profits in 2018, rising 28%.ompany has raised its final dividend to $.91 a share, and 86% increase, taking advantage of its strong cash flow. what --t posting a one 104% hike in profit. thes well-positioned for second half. haidi: paul allen is standing by. any update on plans to sell off assets in south africa? paul: there was an update of sorts, perhaps nothing definitive. on track to get some binding bids by the end of june. south africa energy coal, thermal coal plant that has been beset by few difficulties. it had some damage due to a dragline and protection of that dicker mind has been weighing on results. announce someg to findings by the individual. shery: new crest was out with earnings. what has the company said about the prospect for deals? paul: sophie ran to the details of the numbers. some pretty impressive strong free cash flow. goldis environment of big mergers, we saw one where questions have been circulating around you chris, the world's biggest miner and will it make acquisitions? the ceo said

i also think there is a huge lng angle. which would be something very significant.hings that, if you look at the sentiment of the -- a huge goes from amount of friction to now maybe a partnership. i think the partnership sets the course forward. there's a lot more these countries can do together as partners. i think that is the forward look that people should be looking at as the real catalyst that says cooperation would be huge. more importantly, taking up the fear factor of the unknown. juliette: to your point, what actually is going to help drive a further rally in chinese stocks? we saw that huge jump on the csi 300. if you look at my chart here, the trend is your friend. it didn't continue much longer. what is going to spark a further rally? when you look across the world at the values of some of the larger cap names in china and the growth potential of what is going on in the service economy, in the internet and technology, i think china will develop a very ambitious technology. it will gain momentum. that will be one of the catalysts of why people will chase

we are getting more tied up whether it's through lng or gasoline or diesel or crude oil.re's a lot more trade going on as the u.s. exports it surpluses.- its we are becoming more interlinked. we will see that over the next few years. the excess supply and energy really helps the consumer. that keeps a lot of consumption dollars in the system. david: more interlinked, francisco says. the president seemed to be saying let's pull off of the globalization a bit. blip --a temporarily temporary blip along the way? christopher: the policy is america first. the corporate sector has looked at ways to manage costs and profitability. we have gotten to a tightly linked system. dominant, the be more we will want to share that production globally. the corporate sector may be the way forward. david: christopher j. wolfe and francisco blanch, thank you for being with us today. coming up, the best in the business. how three hedge fund managers edit $3.7 billion to their personal fortunes in 2018. this is bloomberg. ♪ viviana: this is "bloomberg daybreak." theng up in the next hour, for ba

woodside petroleum reported a 28% rise in profits after wrapping up lng production.iggest listed producer took cash flow to boost its final dividend. speaking to bloomberg in his first interview since the results, peter coleman touted expansion plans and called 2019 the year of the deal. >> we have two big projects in china. one is the north of australia and then the scarborough project. around agreements pricing. on the equities side, the scarborough project, holding 75% in the offshore. we would like to come down a little bit and that great we have a lot of interest globally. coming into australia, it is a great project. it is the year of the deal for us. talking to sony aramco, are you looking at 2019 as also the year you bring in new partners? >> it could be. saudi aramco like other countries in the least have stated objectives around what they want to do with gas. i would say at the moment we have people ranging from the middle east through to asia, our normal partners we would have that are looking at the assets. we have opened up a data room. we are showing pe

they also say they have significant funds for the png lng expansion.rch is signaling some brighter days ahead. sophie: let's turn to blackmores having a rough start to the session, falling to an august 2015 low. falling by as much as 35%. this on its warning from china. what is the picture? paul: if you take a look at the today chart, a picture tells a thousand words. the share price stepping off of a cliff. blackmores relies pretty heavily on china for its business model. we are long way away from the days of 2015, 2016 where chinese tourists would fill up their suitcases with blackmores products and haul them back to china. we are long way from that now. blackmores also announcing a cost-cutting program which should take place over the next three years to trim $60 million in cost. you mentioned ioos. a fairly rough year but it looks like the worst is behind them. share price movement is to be any guide. million,e, $135 compliance cost of $20 million to $30 million. executives over a lack of credentialed discipline which came to light during the commi

massachusetts consumed and i think it was 24 times more energy than they produced, so you built three lng terminals, a lot of energy is coming in from louisiana and other states. mr. chairman, i want to ask to insert into the record two is a letterer one asking the president to increase global oil production. that letter is signed by senators cantwell, schumer, menendez and markey. secondly i ask consent to include in the record a statement that shows the average electricity prices for each state, indicating the state of massachusetts has electricity prices that are usually at the top or second top in the continental united states, more than double that of the state of louisiana. insert intive: also aa recap forhat no climate in 2019. a couple of highlights, 2018 with the forest -- was the fourth-hottest year on record in following cobbling -- 2014, 2 thousand 15, 2016, and 2017, it was warmer than average in the wettest and 30 five years, there were 14 weather and climate disasters, each with damages over $1 billion, total cost $91 billion. this is a report released today by noaa, and i

massachusetts consumes, and i think it was 24 times more energy than they produce, and so you build three lng terminals, coming from louisiana and other states. mr. chairman, i want to ask to insert in the record, two things, number one, it's interesting, it's a letter asking the president to increase global oil production, to increase global oil production and that letter is signed by senators cantwell, schumer, menendez, and marquis. secondly, i asked to include the record, a statement that shows the average electricity prices for each state, indicating the state of massachusetts has electricity prices that are usually the top , or second top in the continental united states, more than double that of the state of louisiana. >> also insert the record, nola just released their recap today for the u.s. and global climate for 2018. a couple of highlights, released in that report, thousand 18 was the fourth hottest year on record for our planet, falling behind only 2015, 2016, 2017. in 2018 the united states was warmer than average, and the what is in 35 years. there were 14 weather and climate

we have lng, crude exports. very diverse as far as an energy portfolio is answered.as as a leader in that and also a leader in wind energy. just generally speaking having a diverse portfolio. the green new deal, however, seeks to limit that to specifically noncarbon produced energy in the next ten years. is that feasible without crippling innovation and economy, or do you think that with new technologies, fossil fuels should, could play a part i not a big fan of timetables do we know enough we should not be bringing though -- setting super ambitious goals come understand the impulse. i totally agree, but i think you can kind of get in your own way. what we find ourselves today, the threat ambitious goal for where we have been. i think the climate doesn't particularly cover energy comes from so long as it's not emitting co2 and that means there are a lot of reasons why you'd want to pursue a diverse portfolio. >> you say climate doesn't necessarily care where emissions come from. in a sense the market is again with the energy source comes from. and the appetite global

roads we need more bridges we need better ports we need the energy infrastructure, the pipelines, the lngminals. we are number one virtually producer of oil and gas and that's the kind of thing we want gene is right. democrats want, you know, more green energy programs, mass transit. there's an issue of whether they're talking about the same thing. >> since you brought up the tax cut and i imagine we'll hear about that and how successful, i mean, the market obviously liked it, stephen. saying it's been successful, how are you measuring it $4,000 boost that families were supposed to get as a result of the tax cuts, did that happen? >> well, you know, my mom used to say the proof of the pudding is in the eating we have an incredible economy right now. lowest unemployment rate in 50 years. biggest construction boom going on in american history, ties into talking about infrastructure, my god, the infrastructure going on in america today, every city i go to, denver or nashville or cleveland or san francisco or los angeles or, you know, portland, oregon, to portland, maine, buildings going up,

we want to buy couple more soybeans from you, a little bit more lng. back off, back off what the demands really are, change the way we do business. we can't steal your -- neil: who needs it more, john, i always go back and forth with you, who needs a deal more? i always used to think china needs a deal more. we could use it too, right? >> u.s. needs it from the standpoint to have a degree of primacy in business around the world. china, china will not want to relent to the u.s. demands on a structural change. you can't steal tech anymore. you can't demand it be transferred. can't subsidize the state-owned enterprises to compete against the private companies which is unfair. china will not do that, because it can't. it is so reliant on the economic model. it is 10, 20, 30 year proposition for changing that. the market is metabolizing this notion, some kind of deal, phase saving, pageantry around it, meetings. china will say we'll buy a lot more of this around that. continue talks. neil: they meet again, the two leaders at end of february, right? >> light

now is the lng ceo and the morgan stanley head of global fx strategy.ticking around and joining us. nigel, welcome to the program. we love to talk to you about -- how is brexit panning out? >> interesting the prime mister walked past me and striding purposely. thed to figure out implication of a stride for feature outcomes. this will be a long and complicated process, a lot of us got that is the weight will play out. parliament is edging forward. thate moment, our view is a deal will result. francine: some kind of compromise? andolitics between us europe has always been compromised for the last 30 years. going forward, there will be compromises made, and that is a good outcome. you do not want one side to feel they have won. both sides have got politics determining economics, which is not ideal. in america we have a political overhang slowing down growth in the united states, in the u.k., and now in europe and we have to have political clouds lifted. it is up to the politicians to do that because everybody wants to get on with their lives. and have a go

so they have offered a package of goodies, lng, grain, things that would temporarily reduce the traden things like ip theft and cyberattacks which is very impossible to do and they are also sort of asking that we accept their word on this, when in fact they have broken their word a number of times. stuart: fair point, christian, but i would suggest that any meeting between president trump and xi jinping means that there is a deal of sorts, and that there could be a lot of verification down the road, but a meeting is unlikely to end in absolute failure, both sides walking away angry. if they agree to a meeting, they won't walk away angry. that is a plus. what do you say? >> i'd say under the rules of a customary presidency, that's true. when you get to a meeting of the leaders, you can't fail. but president trump, to his credit, is willing to walk away from lousy deals, an example being the g7 summit in canada, where it was a wholly unsatisfactory outcome. they thought they could frog march him into an agreement and he said no. you know, i think on one level, president trump, i'm just

the united states is in fact producing so much gas things to shell revolution that we are exporting lngt that gas into yonkers. it's really just an amazing situation where regulations in new york have created what's really a government imposed shortage. stuart: you can't crack. that is you can drill down into the marcella shale, even though the deposit is under new york state territory. but you can't go get it. people upstate want to drill. they want to frack, but if the greenies in manhattan and westchester who say you can't do that. if the environmentalists stopping us. >> well, it's remarkable to compare a tale of two states. look at pennsylvania. the marcella sunder pennsylvania with a southern tier of new york state. in 2000 may 2008, new york issued a moratorium be permanent in 2015 under the cuomo administration. today, pennsylvania is producing 18 billion feet of natural gas per day. pennsylvania producing more gas than canada and meanwhile in new york, gas production which was relatively modest in 2008 has fallen so low that the energy information administration no longer publi

we've been consistently against this project, even before we had the ability to sell lng.rst in the world to capture carbon dioxide by burning wood pellets. the company says the electricity it is producing during a trial at the plant near selby is carbon negative and helping to combat climate change on a very small scale. but environmentalists have expressed opposition. our environment analyst roger harrabin reports. we humans owe trees a great debt. when they're growing, they absorb much of the carbon dioxide emissions that are overheating the planet. that is why the uk's biggest power station, drax in yorkshire, has largely shifted away from coal. the new fuel is in these giant domes. they're filled with wood pellets that will be burned to make electricity. when the pellets are burned, they will only release the co2 the growing trees captured in the first place. this is known as carbon neutral. now drax is going one step further. with this equipment, it is taking the exhaust gases from the wood burning, and it is stripping out the carbon dioxide. the flue gas comes in he