$M Comps - PNG LNG/Gulf LNG

[Tree]

LNG plants all cost about the same, $450-$850/Tpa.    Project cost variables and blowouts are mostly found in upstream costs.

Gulf LNG upstream costs, all costs finding, gathering, conditioning and delivering to LNG facilityt, are $1.5-$2 bn.

PNG LNG upstream costs are $10-$14bn.  Their estimates alone vary twice the high estimate for Gulf LNG.

Would seem to me that since IOC's gas cost is negative and PNG LNGs is above $6/M, one of the 6 bidders would be willing to pay more than the price XOM got a few yrs ago for PNG LNG stakes.  Mitsui CSP deal valued E/A at $20-$22 bn.

I forget the PNG LNG $/M, maybe someone has it and can do a quick comp between PNG LNG and Mitsui $/M in these 2 projects.