Investor's presentation video

Nothing we don’t already know. But the thing I like, is when Rhett says BME is going to be worth $1b and he is talking US$. Some bosses on *********, you might take this with a pinch of salt, but Rhett knows how to make a billion dollars every time.
It’s not happening overnight - drilling to start end of next year, boxes to be ticked in the meantime.
The reason BME is in this very attractive looking situation is they bought a stranded asset that is becoming slowly, but surely unstranded by WA legislation. The Gas export exemption is the equivalent of a guarantee it’s going to happen. So it’s being priced as if it were stranded, but it isn’t, it’s as good as derisked.
The risk in investing at the bottom here is not that the asset isn’t there or it isn’t going to be worth what Rhett says it will be worth. The thing is time. IMO, this is a relatively safe long term multi-bagger.

Useful thing to have in the current climate, a Gas Export Exemption…

Japan eyes Australia to meet Russian LNG shortfall


Japan’s Prime Minister, Fumio Kishida, says the country is considering further sanctions against Moscow, but it still needs Russian oil and gas. AP

Tokyo | Japan is looking to Australia to help make up possible future shortfalls of oil and gas cargoes from Russia as buyers scramble to find long-term alternatives to meet energy needs if there is a prolonged conflict over Ukraine.
Analysts and traders said while most of Japan’s energy needs were locked into long-term contracts, there were talks under way with suppliers in Australia and other countries.
Japan, which has interests in major Russian energy projects such as the Sakhalin-2 oil and gas development, has imposed sanctions on Russia but so far, these have not extended to commodity imports. However, analysts said the Japanese government would continue to review the resources-poor country’s dependency on LNG imports from Russia.
“LNG from Russia constitutes a large per centage of Japan’s LNG imports. It is very important for Japanese companies to seek contingency plans including alternative sources. LNG contracts are normally long-term, but some level of allowance are factored in,” Naohiro Niimura, an analyst at Market Risk Advisory, told The Australian Financial Review.
“It would take a long time for companies to find alternative sources, though.”
Allowances in some long-term contracts provide a contingency to reduce LNG imports by 10 per cent. One option was for Japanese buyers to send their Russian cargoes to buyers in China in exchange for cargoes from Australia and other countries, one analyst said.
Australia, Malaysia and Qatar are the largest LNG suppliers to Japan. Russia is the country’s fourth-largest supplier.
“Of course Japan is talking to Australia. We want more LNG from you guys, but the Europeans are also asking Australia for more LNG. Everyone is looking for alternative sources,” one trader said.

‘All options’ considered

Commodities markets information group Argus said several Japanese buyers – including power utilities Kansai Electric, Chugoku Electric and Kyushu Electric – had bought March and April cargoes from the spot market in recent weeks, with the supplies sourced from various liquefaction plants, including those in Australia.
A spokesman for Chugoku said Australia was a “stable source of LNG” but declined to comment further.
Kyushu said the company was talking to the Japanese government and considering “all options” but said it would not comment on contractual issues. Kansai declined to comment.
Japan, the world’s second-biggest LNG buyer after China, imported 74.5 million tonnes of LNG in 2020, with more than 8 per cent of that coming from Russia, Japan’s Agency for Natural Resources and Energy said.
A new Australia-Japan investment report by Herbert Smith Freehills said Japan remained the largest importer of LNG from Australia at 37.9 per cent of total production.
EnergyQuest said in its March report: “Japanese buyers may seek additional Australian cargoes to replace Russian cargoes.
“Unfortunately, Australia is not well placed to quickly fill any gaps due to the looming cessation of shipments from Darwin LNG, the decline of the North West Shelf and the problems with Prelude.”
However, analysts said higher contract prices, as demand from Japan, South Korea and other countries relying on Russia increases, could motivate Australian energy giants such as Woodside and Santos to consider expansion projects previously shelved.
Prime Minister Fumio Kishida said last week that Japan would not join the US and European ban on Russian oil and natural gas imports. “A stable supply [of energy] and security are in Japan’s national interests,” Mr Kishida told reporters.
However, on Saturday he said Japan was considering additional sanctions on Russia in co-ordination with other Group of Seven member countries, but did not outline what they could be.
Japanese trading houses Mitsui & Co. and Mitsubishi Corp are invested in the Sakhalin-2 project, which provides about 10 per cent of Japan’s LNG imports. Japan’s heavy reliance on this project has put Mr Kishida in a difficult position as Japan has been a strong backer of other US-led sanctions against Russia.
While any long-term disruption to Russian commodity sources could benefit Australian producers if more supply comes online in the future, the long-term switch to renewable energy would more than offset that.
Japan last year outlined plans to slash its dependence on gas and coal and increase its reliance on renewable energy in a move that analysts said clouded the future demand of two key Australian commodity exports. Japan wants solar, wind and hydro to make up more than a third of the nation’s power generation by 2030.
Shinichi Kihara, a top environment official at Japan’s Ministry of Economy, Trade and Industry, said in November that a hydrogen-based replacement for LNG could be workable “as fast as 2025”.
Japan’s Ministry of Economy, Trade and Industry declined to comment.

AFR /companies/energy/japan-eyes-australia-to-meet-russian-lng-shortfall-20220307-p5a2kx