Dominion Resources and Cheniere Only LNG Plants That Matter, page-58

Doc,

I don't think anyone disagrees, and your thoughts summarise things perfectly in my mind. There will be a continued changing of the guard as at each major de-risking milestone a new group of investors with a reduced risk appetite include the company in the list of those they are now comfortable considering an investment in; both retail and institutional investors alike. Personally I think BTA's is the next upcoming milestone where I expect this to be the case (unless something unexpected comes along before that in terms of BH, etc etc). As you say, FID, construction start, and even construction completion, etc etc would be expected to be others.