09-28-2012, 09:48 PM
This all is most likely why we have heard the revived talk of EWC recently. As we have been saying there could be a smaller startup with EWC and Flex; both are through FEED. As well last fall it was stated that Mitsui is through FEED as far as the EWC/Flex option on their CSP(s). We also know that IOC has sized the pipelines and let bids for that and was authorized by the board to proceed with certain project requisitions. This gives them a startup near-FID ready project and at that point they need an operator. What we don't know is the proposals for beyond startup. This leaves it open to any of the bidders with XOM and JKM the most familiar with PNG and the project itself. The third (Shell, Chevron ?????) might take some time to get up to speed, but these bidders have had the data and info for a year. They've already spent lots of time and a chunk of money on this. It didn't take XOM but 4 months after project approval to get to FID.