Its been a good run up since August so wanted to reflect on some historical accounting adjustments to see if members had any views around the provisioning ORG took against its cameron LNG contract.
With JKM LNG prices doing circles around the moon and Henry Hub still in the $5 mark i feel like there is something wrong with the way ORG management explained the below sensitivities?
$1/BTU increase we should see $200m odd write back? like when pls? Im sure long term JKM LNG will be more than $7, heck its $35 at the moment and expected to be elevated at least over the next 3 years.
I wouldnt be surprised if a numbnut at ORG accidentally used the term JKM instead of JCC but sure they are not that stupid?
Origin Energy Stategic Positioning, page-208
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