Fitch: Oil Prices Could Stress North America and EMEA Oil & Gas Project Ratings

Oil and gas project ratings in North America and EMEA could come under stress if oil prices were to stay below Fitch's base case price deck for a protracted period of time, according to a Fitch Ratings report.

Other potential ratings stressors include extreme events such as major technical failures or geopolitical turmoil, or if the credit quality of key project counterparties was to deteriorate.

Additional key issues affecting the Liquid Natural Gas (LNG) market include:

--The push in favor of increased contract flexibility and shorter terms, broadening of the offtakers spectrum.

--Prices at recent low levels driven by the drop in oil prices.

--Recent reversal in oil prices to slow momentum behind the development of new liquefaction capacity.

For more information, a special report titled "North America and EMEA Oil & Gas Projects - 2015 Sector Briefing" is available on the Fitch Ratings web site at www.fitchratings.com, or by clicking on the link.

Additional information is available at 'www.fitchratings.com'.

Applicable Criteria and Related Research: Oil & Gas -- 2015 Sector Briefing

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=857788

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Contacts:

Fitch Ratings:
Federico Gronda
Senior Director
Global Infrastructure Group
+0039 02879 087287
or
Greg Remec
Senior Director
Global Infrastructure Group
+1 312 606 2339
Fitch Italia S.p.A.
Via Morigi, 6
Ingresso Via Privata Maria Teresa, 8
20123 Milan
Italia
or
Yvette Dennis
Senior Director
Global Infrastructure Group
+1 212 908 0668
or
Jelena Babajeva
Director
Global Infrastructure Group
+44 203 530 1375
or
Media Relations:
Alyssa Castelli, New York, +1 212-908-0540
alyssa.castelli@fitchratings.com
Elizabeth Fogerty, New York, +1 212-908-0526
elizabeth.fogerty@fitchratings.com

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