@doctornoh @jkerr7999
Gents, I think you may have overstated where Global Venture really is. Sure it's signed 6mtpa SPAs (60% of capacity, subject to specific T&Cs and usual CPs etc) but take a closer look at their FERC docket (CP15-550/1)
- Schedule for Environmental Review -
18 May 2018 (i.e. just issued)
- Issuance of Notice of Availability of the final EIS -
October 26, 2018 (5 months away ... )
- 90-day Federal Authorization Decision Deadline -
January 24, 2019 (another 3 months thereafter)
Meaning NTP 1/2Q19
at the earliest ...
... so only
after all these gating items will NTP be potentially issued. So how anyone can talk about (limited) construction starting in 2018 is utter bull. Bit like TELL(all)! FERC hasn't and won't authorise
any construction until after NTP (and a further formal Order is issued). Period. And if there are delays to their filings
(i.e. Sierra Club) ...
So if they haven't obtained NTP what is the basis for pricing 20 year SPAs? I guess with a lazy $525M in the bank, pricing discounts may one way to attract attention and make 'deals', but that is an expensive way to go ... and we know our MD's views on rushing projects! I'm also reminded that inv. bankers are co-heads here. Just saying.
Looks to me that this is yet more market noise from another potential player who remains ~a year behind Magnolia which remains "ready to go" (JB).
As I said recently, with advanced discussions well underway any Chinese (and you can include Korean & Japanese) SOE company signing-off a long-term agreement will a perfectly timed contribution to the trade imbalances between their country & the US.
Even today's timely WPL's CEO comments about the supply imbalance starting in 2021 (2 years ahead of their previously assessment) is another indicator of a tightening market.
Sure am glad we have FERC done and dusted no matter what Delfin, Tellurian, VG et al say and do and our team is totaly focused on closing out BTAs/SPAs.
Lastly,
@DELLIOTT9 just to add when mentioning BH's 12mtpa, don't forget the colder climate generates 20% more LNG ...
Cheers
