Just a few comments from today’s AGM:
Firstly, the HK listing is still on track for later this year/early next year. The listing in itself is important as there are a lot of investors in ‘this part of the world’. Once the market conditions are right, a capital raising may be considered. These two are not ‘hand in hand’.
Secondly, Abbot Point is well and truly back in the picture. Recent developments, especially QLD report re: suitability of Abbot Point as a location for LNG terminal, has underpinned progress.
Thirdly, Sengkang LNG plant is well and truly on track.
Fourthly, outcome of PNG Gulf LNG project will be clarified in the next few weeks/months. EWC can live with either being asked to remain and integral part of this project (ie. new international LNG operatior will use additional gas from existing and yet to be developed Interoil gas fields) or being asked to step aside.
From now on, EWC is moving into a phase of delivery (Sengkang, Abbot Point, LNG Hubs Philippines and East Java as well as potentially Gulf project).
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