It is also interesting to note that Ned P. Baudat is Project Director for Mustang Engineering's Midstream Group. He was operations manager for Bechtel?s Global Gas who were involved with the ConocoPhillips LNG facility in Darwin.
I am not sure which Bonaparte gas they will be using for LNG as all but Barossa/Caldita so far is high in CO2 and we know that COP want to keep their hands on that, even though it is up for sale. For Prelude/Concerto Shell are looking to an FLNG solution whilst East Timor do not want the Sunrise gas processed in Oz.
This leaves MEO and Eni. The farmout document leaves us pondering:
Following successful appraisal of the Heron and/or Blackwood gas discoveries the Joint Venture will evaluate all potential commercialisation paths for the resources.'
It appears MGN are having similar problems MEO have had over the years. As Shell se the economic benefits of FLNG and are a partner in ES then they could be the sticking point for MGN.
Like orstock says it is interesting times but the STO/MGN ES sale is quite complex and taking an eternity. I wonder how much it is holding up the progress of MEO's future plans.
#:>))
PS - whilst writing this I notice that the sale has fallen over so it is one less company (MGN) to keep an eye on but I feel for their SHs. STO will be smiling about the profit they have made on the failed transaction.
The Darwin solution has now failed twice. Now it is up to MEO to ply their expertise in the area.
Perhaps Evans Shoal will go full circle after all and the most practical solution for the stranded gas will eventuate.
MEO Price at posting:
21.0¢ Sentiment: LT Buy Disclosure: Held
