Hey Frank, I beg to differ. Perth is but a short hop compared to Houston and a golden opportunity to meet Management and Board. In my book, if you really want to understand what’s going on, make the effort as it's a great opportunity to talk (within reason) on what's going on behind the scenes. Then you learn to shut out the noise, focus on what's really happening and sleep easy at night no matter what the gyrations of the share price. Hence yesterday was a very worthwhile investment in time, effort and cost (and somewhat closer than Houston).
In summary, I remain utterly convinced LNG has the team, the projects, the expertise and industry track record to get the job done. I think conditions are beginning to turn more favourable and 2017 will be more positive.
And credit where credit is due, RB formally thanked MB (a couple of rows behind me) who had the vision and foresight to get the company to where it is today. “An icon of the industry” was how he described MB and few would challenge that view. And thank goodness for that CR because without a little self promotion, the share price wouldn’t have got to where it did. Hindsight blinds us all.
Key highlights for me from yesterday?
SSHs remain very supportive, ditto Stonepeak, ditto KBR, ditto BNP and ditto Meridian. As I said, it's the story behind the headlines which can often be very insightful. And I’ll share one: Stonepeak & Meridian go a back a long way and closure of this deal is dear to TV’s integrity with his own shareholders (when raising original funds). No intention of failing them. As to 4 not 8mtpa … it’s fair to say they’d rather have something than nothing. But max'ing out makes perfect sense.
Fascinating insights from PM whose is based in Washington. Trump will be good for Energy and specifically LNG. No issues there. And equally fascinating insights on the reminder to FERC which hopefully will be wrapped up soon enough. As to 404/10, personal drama delayed that, but as you heard, should get sorted hopefully by thanksgiving.
Canada: Plan B … given time, BH could well become Plan A. (Wouldn’t NS love to sock it to BC! Hence NS EA imminent is a no brainer.)
Also credit to our Polish senior for brokering JB’s attendance at that recent conference, that wasn’t the only item on his agenda and he left the only LNG importer mighty impressed.
Finally and most importantly is the intention to develop a better communication plan to widen the industry’s understanding of LNG’s value prop and OSMR cost advantages. The latest example being a Mid Scale LNG article in November’s LNG Industry publication (sorry behind a firewall - sub free for limited period) which makes no mention of OSMR (through in another article briefly mentions BH). The implications of communicating more widely to the market of OSMR and revenues thereafter are likely to be significant.
So Frank, keep the humour coming as in all probability it will be Houston one day, if and when things play out the way we expect.
