From RBC research report, page-8

Feel more it works in STX favour. The margin WGO is making could be super small like 50c a GJ. STX doesn't have to commit a long term GSA to anyone, have this spare capacity in their back pocket for any phase 2 decision/project Haber, could delay phase 2 if they want to go off on other speculative projects yet still get their full fill/cashflow without doing anything of making any commitment to another downstream player or buyer.