007 I'd speculated a while back another NTP before the US Presidents Day long weekend. However with the 2 senators telling you know who to politely hurry the FERC up, it's breaking news in Bloomberg & FT indicating production freezes by Saudi Arabia & Russia meeting in Doha, Qatar earlier today.
(And further background as reported by the FT) "Brent has now gained nearly 18 per cent in the last three sessions as those investors with bearish bets are forced to dump positions on fears a meeting in Doha on Tuesday between Saudi Arabia, Russia, Qatar and Venezuela, may lead to production cuts.
Falling oil prices, via the message they send about weak global demand and their damaging impact on the energy sector, have contributed to the widespread market anxiety for much of 2016.
Worries that a sliding renminbi would curtail China’s purchasing power for commodities has also weighed on the sector.
But after returning from the week-long lunar new year holiday, Beijing has sought to underpin its currency, sparking a big bounce in many industrial metal prices."
Whilst this may help LNG in the short-term, BTAs are what are required.
FERC's NTP still expected during Q1 but not expecting it to do anything to the share price but derisk MLNG.
My biggest fear ... an opportunistic bid for LNG: 2 projects both fully permitted for $200m. Sooner or later someone will have a crack once the macro picture steadies.
