Very rational arguments Doc which accord with my own. RC inferred he was playing hardball with those impressed by OSMR lowest cost quartile profile seeking further discounts. BTAs have to be a win-win given the long term nature of such strategic agreements and given removal of 2 gating items, expect BTAs to be signed off imminently. That will also increase competitive tension for remaining capacity.
Mention has been made about tollers Board meetings sanctioning BTAs.
It's fair to say that whilst the frequently may not be monthly, given a fortnight ago EPC & FEIS were ann., you would think remaining 2015 Board meetings will likely take place in the next 2-3 weeks before Christmas. Boards will already have been briefed on BTA termsheets by internal BD teams negotiating with LNG. So stands to reason, we should get news very shortly.
LNG are doing all they can and I was recently reminded of Meridian optionality to take additional capacity under the terms of the original BTA.
Lastly, good to see Alembic reiterate their LNGLY $12 TP with gating items removed. Expect Fosters update post next BTA.
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