IOC's Lynn on Total Schedule

[Putncalls]

At $50 oil, LNG economics worldwide would be subpar, and IOC’s LNG project is no exception. That’s one reason why we certainly don’t look at $50 oil as something that will continue forever. But, in any case, let’s underscore that IOC’s resource selldown to Total – which will hopefully result in a $1 to $2 billion cash payment by mid-2016 – is an entirely separate matter. Total is contractually obligated to buy this gas resource, no matter what. The decision on whether to proceed with the actual project construction will probably not be made until 2017, after the resource selldown is completed.

This is what RJ said about low oil prices and certification.