bg: slow to shore up reserves, page-3

Yaq,

You may wish to consider the fact that a gas supply agreement exists and one day in 2015 a ship pulls up to the terminal expecting a load. A week later another is scheduled to turn up.

The Client needs that gas 10 days later after loading.

"Sorry, just buy some spot LNG for 12 months come back then and we will be ready".

Being late by 10 days or upto 12 months will be financial death, imagine trying to buy LNG spot cargoes when the market knows you need them. "If you are in trouble and the market knows you are in trouble, you are in more trouble" - Chanticleer.

I imagine right now the calculations of buying supplies and pipeline capex, field development timetables of diverse other suppliers versus acquisitions etc etc are all being done. Basically the insurance policy costs vs ...death.

When you have signed a gas supply agreement, not supplying will be worse than tragic.