Kahuna1
BTW a good series of posts from all those on this thread.
On the aspect of the price received by WPL for its LNG product (and this may have been said by others)...I believe the contracts are "take or pay" in nature ie. the elecetric companies still have to pay for teh delivery of the contracted amount even if they can't use it. If that happens then WPL raises a liability against the power companies and leaves the gas in the ground.
The contract price is, as you say worked out on a formula, and based upon a basket of crude and LNG prices that varies over a 6 month period. So there is a lag effect when prices change but any sustained increase does benefit the producer. There probably is a discount against the basket price but I don't know how much.
regards
DF
oil/gas the crisis looming beyond 2020, page-34
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