All the best for the New Year to serious LNG supporters and long-term holders.
There will be plenty of doom & gloom merchants along the way, but as a veteran speculator and small time entrepreneur I've found that generally they have little to offer and it is well worth ignoring their poorly thought through advice. I can't see why this won't be a good year for LNG Ltd. Don't forget at Financial Close for Magnolia LNG will get an injection of $66-$80 million from Stonepeak & up front licence payment of $25 million for the 1st 4mtpa & I think also the 2nd 4mtpa. At least that was the picture before planning to get all 8mtpa capacity at once and I'm sure it will be taken account of in the new 8mtpa arrangements being negotiated.
Being perpetually negative and critical is a cultural problem with the financial community and big-en-of-town in Australia where being a professional sceptic is a matter of pride and worn like a badge of honour. They haven't got over the cultural cringe yet. Hence they usually miss the opportunity to commercialise Australian innovations and entrepreneurship. Many times I have heard -'' it can't be any good because they haven't done this in America'' and words to that effect. When it comes down to it, they are much happier with real estate speculation and simple to understand stuff like that. Get rich quick schemes is more their pace. In my experience they tend to be very creative in dreaming up ways why something might fail and usually once they have found one possible reason they down tools, prematurely 'class the wool', declare that it won't last the distance and look for another opportunity. Thus they usually tend to miss the big wins which eventually go overseas to get ''discovered'. Having short attention spans, if something isn't an instant overnight success in 6 months they lose interest and end up missing the biggest opportunities along the way. Sadly, there are scores of such examples. LNG is just another one that the financial institutions in Australia have largely missed because they are too busy rubbishing it and shorting. I've found them to be wrong too many times to bother listening.
They'll come up with all sorts of imaginative problems over the next year as to why LNG won't make it. I reckon MB has seen it all before and won't be deterred. In my opinion he has the resilience to see this through and has surrounded himself with a quality team.
The little article below might provide some balance to those who reckon there are no more BTA's to be had anywhere! China Enacts Emergency Plan To Deal With LNG Shortage
