daytrading july 26 morning, page-96

Re: LNG, you guys are missing the point a bit.

The financing risk is already factored into the price. The market has valued 50% of the asset at $700m (with the financing risk discount factored in). Stonepeak's 50% has the same risk as LNG's 50% and Stonepeak have valued it at $700m. If the finance was 100% complete, each 50% might be worth $900m etc.