TOTAL wants to delay as long as possible to put all payments into 2017 when they have some CA$H.
JFT has repeatedly (and correctly) reminded us that XOM sanctions LNG projects based on P1 certifications (ie 90% probability) rather than P2 (50% probability).
It's my opinion that if XOM wants to sanction 2 trains (plus gas for a 10% expansion of the existing 2 PNG LNG trains), they want to see the P2 certification of E/A at close to (or even over) 10 Tcfe.
JFT has repeatedly (and correctly) reminded us that XOM sanctions LNG projects based on P1 certifications (ie 90% probability) rather than P2 (50% probability).
It's my opinion that if XOM wants to sanction 2 trains (plus gas for a 10% expansion of the existing 2 PNG LNG trains), they want to see the P2 certification of E/A at close to (or even over) 10 Tcfe.
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