Since 2014 all they have been doing is scaling back on wellpad (gas recovery) development to save CAPEX on GLNG Train 2 and recover budget blowouts on GLNG Train 1. Then to compensate for not having or expanding their gas resources they just bought 3rd party gas, which is a shared pipeline with Origin or whoever else they bought the gas from. How much of the gas they sell is actually pulled out from the ground by STO rather than purchased from others to meet their delivery contracts?
With the Saudis and Iran etc possibly coming to terms on freezing oil production (to prevent world storage tanks from spilling over and therefore driving oil to ~$10), this means oil price will not plummet but it also means it wont go up much either, not until true demand for oil goes up.... so hands up who sees growth in China and Europe etc picking up the pace in the next 12 months? I think the current rising gold price clearly vouches for world opinion on that one.
GLNG project will bleed to death over the next 6 to 12 months on a stabilized but low oil price.
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