Duma/PNG cannot and will not allow IPI to hold TOT/IOC deal hostage. IOC has had the 'sell or lose' ultimatum from Duma a couple of times, why wouldn't he have the same dictate to Civelli and the minor IPI?
Hession stated in Nov CC that IOC had Gov't assurance of license renewals. Does IPI have the same assurance or will/has Duma threatened to not renew their stakes at end of March when licenses expire and get re-issued?
Gov't gets their way and Gov't does not want random private investors with a stake in their 2nd national LNG project.
Meanwhile TOT is negotiating win unnamed entity for a 5% stake and IOC is reported to be in informal talks with Woodside for a stake.
Licenses will be re-issued with IOC and new partners names, the Gov't, landowners and not IPI or Pac LNG.