The key words in your quote are "existing discovered resources"
STO has vested into the GLNG extra adjacent acreage which will most probably give them a much improved Resources/Production(Gas Margin) ratio
Not having enough gas for 2 trains is just a convenient Myth - STO has vast amounts of gas available. The GLNG 2 train figures have been presented many times and while I did agree that their Gas margin was low the new tenements now added in should give them a better buffer for conversion of resources to reserves.
A STO presentation worth reading - Pg6
1.Australia has current production 20mtpa (- taken 20 years to get there) 2.sanctioned Gorgon + Pluto = 20mtpa to come 3. Extra 100mtpa planned from various greenfield or expansion projects in consideration, construction or operation - only 4 projects have binding offtake agreements in place (of course GLNG has sold 5mtpa out of 2 train 7.2 total)
How much of that 100mtpa will go ahead and over what time frame ? just thinking aloud ! law of big numbers - even a small growth % of a large market is in itself a large relative number
Cheers
ESG Price at posting:
91.0¢ Sentiment: Hold Disclosure: Held
