03-20-2014, 06:24 AM
'Getitrt2' pid='39487' datel Wrote:Why would IOC want 15% in two trains at PNG LNG plus cash, rather than 25-30% in two trains at a Total project with PRL 15 plus MORE cash AND further expansion opportunity AND the likelihood of gas to sell to PNG LNG from elsewhere per Hession? Total has already beaten Exxon's best offer on PRL 15, and I doubt that is going to change. I agree on doing both; it's a matter of how, which probably won't be certain before further drilling at PRL 15 and elsewhere. In the meantime, CLOSE THE SPA WITH TOTAL. Not to say I couldn't be wrong. By the way, Justin, with respect to who's "steering the ship", I feel absolutely certain it is NOT Mulacek. Try Hession, in coordination with O'Neill.
It's called risk management Getit. IOC already has enough risk just having all eggs in PNG. PNG LNG will be up and running in a few months and expansion trains are much more certain than a new plant in a sparcely populated Gulf Province. As a shareholder I like taking a smaller % in 3 future trains where IOC has to put in less cash. And the government looks at it the same way. I'll take the separate plant on top of it, but PNG LNG can be seen, touched and felt.