04-26-2013, 04:18 AM
(This post was last modified: 04-26-2013, 04:18 AM by johnwgrant.)
Palm: my comment that Exxon is a low probability is based on the simple theory that they have enough of their eggs in the PNG basket already. On top of this, I think the PNG gov't would like a second Super Major involved - just to make sure that they can "optimize" their development timelines. In other words, if there is only 1 Super Major, then they (the Super Major) will set the development timelines for the 2nd LNG plant/development. If there are 2 Super Majors, then the government can push the 2nd LNG project forward independently of the PNG LNG project (Exxon's baby). Of course, there is always the 'friendly' competition between the 2 companies to see how quickly they can begin production and/or quantify reserves !