From P30 of 2021 annual report:
Our relationships with customers in Australian and international energy
markets have been maintained through a track record of reliable delivery
and expertise across contracting, marketing and trading. In addition to
long-term LNG sales, we pursue near-term value-accretive arrangements
through short- and mid-term sales and LNG shipping transactions. Our
marketing of crude, condensate and LPG is based on short-term sales,
and may be supplemented by term arrangements to maximise value. We
are collaborating with our customers on innovative lower-carbon energy
solutions, including carbon offset LNG and liquids cargoes.
Is this code for the process of buying and selling cargos in transit? If so, in a tight market, prices are elevated, subject to high volatility and less predictable i.e making such trades more of a high risk gamble. Better to de-risk and enjoy the high prices of one's own production I would have thought. Taking this type of business out of the equation reduces both sales and cost of sales but increases certainty.
It could have been better explained in the release.
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From P30 of 2021 annual report:Our relationships with customers...
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