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Chinese Chinese now snubbing Australia due to politics

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suz73

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02/03/18

10:34

Post #: 31473820
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Originally posted by jkerr7999 ↑

The Cheniere SPA with CNPC was an important, breakthrough announcement which has signalled to aspiring, future US projects that the Chinese are well and truly open for business. Corpus Christi Train 3, who were always ahead of us in the queue given their proven track record and virtual guarantee to reach FID, now have 2mt of their 4.5mt asking quota filled... needs a further 1.5mt to reach FID. The MOU with CNPC was signed last November so it goes to show how fast that turned into a SPA and how determined the Chinese can be to pull the trigger (on contracts) due to their insatiable demand for LNG presently.

Also very interesting timing considering a Chinese trade delegation were just present at our headquarters in Houston and wouldn't mind betting that Joseph B' Oris was behind bringing them to our doorstep. I say this because of a statement from a company representative, " Joe has fit right in, a great hire for us. He seems to have great existing relationships and his experience is top notch. I still believe the market will dictate when offtake is signed, not necessarily one person and their connections or experience. However, Joe absolutely moves the needle for us ".

Asked GV recently where he believed Magnolia sits in relation to competition from worldwide projects in the race to FID... listed all our rivals previously shared with ya'll in which case his response was, " it would not be appropriate for me to comment on this but the important point is, the world is keenly interested in US Gulf Coast LNG above all others ". Thats fact and evident with the 2 deals Cheniere has already signed in 2018 and given how quickly Sabine Pass, Corpus Christi, Freeport, Cameron, Dominion Cove, Elba filled their trains to reach FID during the first wave.

Bottom line is... the Chinese are a "game changer" and we're now in their back pockets! Coupled with comments released around the 7th of Feb 2018 from the Indian Government stating their intentions to more than double the natural gas share in its energy mix from 6.5% to 15% by 2022, while building 11 terminals over the next 7 years bringing importing capacity from the current 20mt (from 4 terminals) to 70mt... while also considering GAIL already has existing SPAs with Sabine Pass for 3.5mt, Dominion Cove for 2.3mt..... we are certainly in the right place at the right time!!

Its meant to be!

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Chinese now snubbing Australia due to politics

LNG Price at posting: 47.0¢ Sentiment: None Disclosure: Not Held
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Chinese Chinese now snubbing Australia due to politics

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