'Stavros' pid='25269' datel Wrote:
'Tree' pid='25265' datel Wrote:
Take over bids coming? Maybe. A Shell bid won't be driven by FLNG though.
Shell will never place a 'world's largest ship' in the friendly waters of Gulf Province and pipe E/A gas to it.
Stick built Gulf Plant will be a fraction of the FLNG cost.I like where we are now - butt deep in legal work defining a 1500 page SPA based on an XOM template which by design favors XOM in every sentence. The challenge is for XOM, PAC LNG, PNG and IOC legal teams to protect their seperate interests with exact wording all can agree upon. That takes a little time and that time is running out.There will be double digit million ton production from multiple trains fed from PRL15 and Tri which IOC will have ownership stakes. Location of those trains is unknown today but the resource and LNG market will ensure the trains will be built.
Tree:
I respectfully strongly disagree with your statement that the "" XOM template which by design favors XOM in every sentence."
1. IOC has IB's representing them who get higher fees the better the deal is.
2. IOC is the seller who has the verified goods available on ths shelf for sale
3. XOM is the hungry buyer who does not have nearly enogh gas to underpin their 3rd train, never mind #4Ergo XOM and IOC are negotiating on equal footing at best, but to my opinion the negotiations have probably favored IOC from the beginning.
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" XOM template which by design favors XOM in every sentence." |
Agree or not, your choice. There is an XOM template. The XOM template speeds up the SPA draft. 1500 page documents do not begin new each time. The specifics are worked into accepted templates.
XOM template ---->adapted to E/A transaction specifics------->requiring tedious legal exactness---->protecting all parties involved = avoiding mistakes or gray areas which can cost IOC tens of millions or even more.
Agree on your 1,2,3. I'm confident all agree on 1,2,3 as they are self evident.