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However, the remote loca- tion of the field, in hostile waters covered with ice for much of the year, raises ques- tions about how soon it could be economically developed, particularly in view of the Soviet Union’s very large onshore gas resources.

Mr Ostap Sheremeta, a senior official in the Soviet Ministry of Oil and Gas, yester- day confirmed, during a visit to Norway, the discovery of a large gas field. Senior Fellow at the Fridtjof Nansen institute, Oslo, said he had been told of the find dur- ing a visit to Moscow last week.

Analysts expressed concern over the amount of debt being' acquired. Page 17 Soviets discover ‘world’s largest offshore gas field’ By Karon Fossil in Oslo and Max Wilkinson In London A GAS FIELD thought to be five or six times larger than the whole of Britain’s North Sea gas reserves has been dis- covered by the Soviet Union, according to reports from Oslo.

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However, the remote loca- tion of the field, in hostile waters covered with ice for much of the year, raises ques- tions about how soon it could be economically developed, particularly in view of the Soviet Union’s very large onshore gas resources.Mr Ostap Sheremeta, a senior official in the Soviet Ministry of Oil and Gas, yester- day confirmed, during a visit to Norway, the discovery of a large gas field. Senior Fellow at the Fridtjof Nansen institute, Oslo, said he had been told of the find dur- ing a visit to Moscow last week.Analysts expressed concern over the amount of debt being' acquired. Page 17 Soviets discover ‘world’s largest offshore gas field’ By Karon Fossil in Oslo and Max Wilkinson In London A GAS FIELD thought to be five or six times larger than the whole of Britain’s North Sea gas reserves has been dis- covered by the Soviet Union, according to reports from Oslo.• The $1.98bn Bass is paying fix* the US chain includes just $125m in new Bass ordinary shares - the rest reflecting the refinancing of Holiday Cor- poration debt amounting to $L855bn. The discovery, in the Bar- ents Sea about 250 miles north-east of the Arctic port of Murmansk, is thought likely to he tbe world’s largest offshore gas find, perhaps twice the size of the Norwegian Troll field.Spain's Socialist Premier, Is about to do just that in satisfying the constitution's guar- antees on freedom of speech Page IS the Royal Australian Air Force were also held up yesterday by unsettled issues of passenger insurance and ticketing.The air force has available a num- ber of passenger aircraft, including Boeing 707s.Those of the airlines, ironically, might be Increased if they are forced to pay out pension obligations. Fl NANGfo L i Street, Now Yorfc =nri.' - w •ii: ‘ v -' Zani V ; : , %h FINANCIAL TIMES FRIDAY AUGUST 25 1989 OVERSEAS NEWS Diplomats strive to find solution to Beirut crisis By Lara Marlowe in West Beirut DIPLOMATIC pressure to solve the Lebanon crisis tototi Qi FM yesterday, with a Soviet envoy arriving in Beirut, European Community, officials on their way, and the Arab League attempting to revive mediation efforts.

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However, the remote loca- tion of the field, in hostile waters covered with ice for much of the year, raises ques- tions about how soon it could be economically developed, particularly in view of the Soviet Union’s very large onshore gas resources.

Mr Ostap Sheremeta, a senior official in the Soviet Ministry of Oil and Gas, yester- day confirmed, during a visit to Norway, the discovery of a large gas field. Senior Fellow at the Fridtjof Nansen institute, Oslo, said he had been told of the find dur- ing a visit to Moscow last week.

Analysts expressed concern over the amount of debt being' acquired. Page 17 Soviets discover ‘world’s largest offshore gas field’ By Karon Fossil in Oslo and Max Wilkinson In London A GAS FIELD thought to be five or six times larger than the whole of Britain’s North Sea gas reserves has been dis- covered by the Soviet Union, according to reports from Oslo.

• The $1.98bn Bass is paying fix* the US chain includes just $125m in new Bass ordinary shares - the rest reflecting the refinancing of Holiday Cor- poration debt amounting to $L855bn. The discovery, in the Bar- ents Sea about 250 miles north-east of the Arctic port of Murmansk, is thought likely to he tbe world’s largest offshore gas find, perhaps twice the size of the Norwegian Troll field.

Spain's Socialist Premier, Is about to do just that in satisfying the constitution's guar- antees on freedom of speech Page IS the Royal Australian Air Force were also held up yesterday by unsettled issues of passenger insurance and ticketing.

The air force has available a num- ber of passenger aircraft, including Boeing 707s.

.98bn Bass is paying fix* the US chain includes just 5m in new Bass ordinary shares - the rest reflecting the refinancing of Holiday Cor- poration debt amounting to $L855bn. The discovery, in the Bar- ents Sea about 250 miles north-east of the Arctic port of Murmansk, is thought likely to he tbe world’s largest offshore gas find, perhaps twice the size of the Norwegian Troll field.

Spain's Socialist Premier, Is about to do just that in satisfying the constitution's guar- antees on freedom of speech Page IS the Royal Australian Air Force were also held up yesterday by unsettled issues of passenger insurance and ticketing.

The air force has available a num- ber of passenger aircraft, including Boeing 707s.

On Monday they refused to resume normal working, and the Industrial Relations Commission cancelled the fed- eration’s industrial agree- ments.

But all t Hfo might not be enongh to satisfy the expected tourist influx over the next few years^ residen t s bythe summer of 1993. 'hor- rify everybody.” Soviet sources said that, while the Soviet Union agreed with the French objective of encouraging a political dia- logue between warring parties, they wanted to avoid a con- frontation between their Syr- ian allies and the French navy.

The Ug problem, now is devd - good f acilitie s fast enough to pace with the new arrivals. About 2S0farmeis l held back by police with riot shields, greeted foe minister with jeers and insults an his .first stop during a daylong tour of this southern region, one of the worst affected by the drought. the worst drought in is years and an estimated 300,000 formers- are .expected to lose part or all. Mir Nallet came- to explain, the aid package of FFr&SOm (£56m) in loans and. President Francois Mitter- rand of France and Soviet Pres- ident Mikhail Gorbachevmadfi a joint appeal for a ceasefire in Lebanon on July 5.

■ Mr Sberemeta’s confirmation of the discovery at a Norwe- gian oil conference yesterday was not welcome news for his audience. Mr Bergesen said the Soviet Union might find a local mar- ket for some of the gas near Murmansk, with possibilities for export to Sweden and Fin- land.

Although a pipeline to Scandinavia would be a consid- erable undertaking, it was well within the Soviet Union's capa- bility - being much shorter than the pi peline from the Sib- erian gas fields to Western Europe.

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