Time for a new share buyback !?!?

[admin]

Yes, in theory all projects can be on hold, but LNG demand is increasing at 5% a year and somebody sooner or later has to build additional capacity.

It's a bit of a collective action problem but the market is usually fairly good at sorting that out. And it's not necessarily the market, Total is a very big firm, they will look at their projects as a portfolio and weigh the prospects of each.

I'm not saying it's not possible we're getting delayed or even canned, but I think that's really fairly unlikely.

But even if the risk is small, it has notched up a bit, there is no denying in that.