This rival project at Lake Charles may be part of the reason for the shorting and negative sentiment and downright manipulation of LNG stock. They are slightly further advanced with approvals than LNG Ltd, but LNG Lt will beat them into production by about 18 months assuming next couple of approval stages and BTAs go smoothly. BG being taken over by Shell who were LNG's nemesis at FL in Qld (aka Arrow Energy).
At April meeting MB said he beat BG to the favourable Magnolia site by a matter of weeks. This time round LNG have more resources and more support so hopefully Shell/BG can't stuff things up again. BG's cost structure has been too high in the QLD LNG project (write off of A$9.8 Bn) - a major reason for merging with Shell with open arms and a big bear hug. LNG Ltd has a major capital and operating cost advantage compared to others.
LNG Price at posting:
$1.38 Sentiment: Buy Disclosure: Held
