LNG Prices, page-5

Siv, in the 20 year tolling contracts, should we think of the $100m/mtpa as a real or nominal figure. Ie will Lng earn the fixed $100m each year, or are there predetermined price increases such that the $100m is at least inflation linked?

its just that it makes a big difference to valuation, but its not clear how it works exactly.

I think the variable costs are inflation linked in order to maintain the $100m earning power over time, but if the tolling fee is fixed/constant, then the real earning power erodes over time.

what are people factoring into their valuations?