595000 @ 1.95, page-19

BTA's are Binding Tolling Agreements. The signing of BTA's locks the tollers (who provide the income stream to the plant - in this case Magnolia) into fixed price agreements for 20 years whereby they source the gas to the plant, pay us a set monthly fee (whether they want us to process the gas or not), and then they take responsibility for transporting the LNG away from the plant and for selling it. At the point that BTA's get signed LNG's income from the plant for 20 years from the time it goes into operation in 2018/2019 is outlined in the terms of the BTA and is guaranteed. If the supply of natural gas changes, that's not our problem (we still make same earnings off the plant). If the cost of natural gas changes, that's not our problem (we still make same earnings off the plant). If the demand for LNG changes, that's not our problem (we still make same earnings off the plant). If the price of LNG changes, that's not our problem (we still make same earnings off the plant). Given this (and combined with the fixed price and schedule for construction) you might now understand why everyone keeps saying that once BTA's are signed it's game on. Financing should be a non-issue because lenders have the guarantee that we will be making defend and guaranteed earnings no matter what happens.