I think Micah was referring to the part of the BIA I posted
here.
I highlighted "will have" because it indicates LNG9 did not have the funding at the time they signed the BIA, but were confident they could get it. Conditions in the energy markets have deteriorated significantly since last week's OPEC meeting, undoubtedly making it more difficult for them, or any small player, to secure finance.
Walking away may not breach the bid conditions. They could probably argue there's been a material adverse change in the markets, refer to part 3.8(i)(B) of the BIA. Even if they were found to be in breach though, like you said in an earlier post, they're a Singaporean shelf company so it will be extremely difficult to get anything out of them, and that's assuming they have anything worth getting, which in and of itself is unlikely.
Still, it's not over just yet. Just the risk, in my view, is now unfortunately significantly skewed to the downside.
