Stonepeak have an agreement to provide the entire capital component for the first 4mtpa in return for a percentage ownership which provides them with a specified IRR on their investment. The IRR has not been disclosed but the percentage ownership has been suggested by the company to be in the 50% ballpark, with variations depending upon the exact numbers for revenue and expenditure for the project. Stonepeak have expressed interest in participating in the second 4mtpa and negotiations had been happening, but no outcome has been announced. If Stonepeak did not end up participation the company would need to otherwise provide the capital component for the second 4mtpa (which is significantly smaller than that of the first 4mtpa), and the company has explored various options here, but again announced nothing as yet.
LNG Price at posting:
59.5¢ Sentiment: Buy Disclosure: Held
