LNG macro analysis, page-2444

One could argue that LNG Limited's management should have been well aware of the potential impact from the trade war way before China introduced the 10% tariff on LNG in September 2018. While the trade war had been going since 2017, the 'tit-for-tat' tariff hikes between the USA & China started in March/April 2018. Surely management with their extraordinary talented pool of individuals (something that was wheeled out by management at every opportunity) might have come to the conclusion that LNG might get also be in for a tariff hike & make it harder to reach FID.

I'm not here to argue though so lets use your suggested September 2018 time frame that you believe things may have been turning pear shape in regard to LNG Limited reaching FID and management realised this once the 10% tariff hit in September 2018.

With that in mind, could you think of a reason why the title on the slides accompanying the November 2018 Annual General Meeting (dated 15 November 2018) was - 'Not if, but when' - GV - Managing Director and Chief Executive Officer??