07-19-2013, 09:16 PM
The solution to the Gulf leaders requests is simple and revealed in the initial Exxon Presser. That Presser states IOC has the right to develop their own independent LNG plant. I believe this Gulf leader ruckus is about seeing that IOC does develop an independent LNG in Gulf province and to discourage the selling of more than 1 train of NG to Exxon. Using the EWC module idea maybe with a financially stronger company than EWC in Gulf would make all happy(except Chandler). If the EWC deal was used as proposed that is FID ready then 85% of the LNG revenue comes to IOC vs maybe 20% with Exxon in train 3 deal. Highly profitable for IOC shareholders. The NG that IOC owns at 5 cents per mcf get sold by them for $14 plus. I call that profit.Odds of this are quite high in my mind.