Ann: Magnolia LNG Secures $1.5 Billion Commitment from Stonepeak, page-34

I already thought stonepeak/somebodys were expected to be kicking in equity for the full 8mtpa anyway. It hurts a lot that there is no 3%/132m USD up front FID bonus - that would have provided a great cushion for dealing with problems if more equity needed to be kicked in - so now we will need another crap raise at FID I suspect. Also now we will sit under Stonepeak in the pecking order if there are problems/delays, and that could lead to strategic weakness in negotiations if more cash is required, as Stonepeak will suffer far less from problems than we will, and that stronger position they will hold will make hardball tactics much more likely in such a negative event.
Also we still don't know what percentage of Magnolia we will hold - so quite a few red flags. We would hope that we have more equity in Magnolia without that upfront bonus.

Qatar and Iran are today announcing they are expanding their massive field.

I think the market is right to be happy with the news, but we might be getting a bit carried away, with quite a few relative negatives in the news.

Just adding some balance - congrats to holders prior to today on some great news. I shorted for a quickie - I long and short LNG every now and then - I wish I longed the open - oh well. I'm certainly going to be interested in longing this if it falls back towards the mid 50s again after this news.