Citi on OSH: PNG LNG on track

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If its $1 that $4.6 Billion for IOC , the Exxon pre-paids to be spread over all owners. Example Exxon will pay infrastructure costs those costs are absorbed by all owners from the proceeds. IOC shareholders to receive $2.7 Billion gross in the deal.

In 2011, Marubeni paid ~$3/M for a 1% PNG LNG stake when they bought 20% of Merlin Petroleum project equity.  That buy-in price will translate to IOC.