WCL will drag negotiations out to make MB - an old man in a hurry - desperate for a deal.
The second and bigger biggie is a lack of certainty.
The Chinese - don't like to be hurried, take a long term view of things and never overpay.
Will they support him?
This is very delicate and uncertain for all the parties' concerned."
i think you will find that WCL will make up its mind, one way or the other, pretty quickly. and thats because so much of the share register is held by so few s/h - and the biggest s/h are on the Board. But I very much agree with you that the Chinese will take quite some time to make a decision, they will argue over the smallest issue, and from experience, they come back again and again questioning those issues which you think have already been resolved!
But it is pretty appearent, as you say, that they take a long-term view, and I think they want WCL (and then maybe MEL) because history is showing us that the Chinese want to contril or have a say, in the source of the gas supply.
The Chinese have basically drawn a line in the sand, and will see this project through to the end.
i think WCL and MEL are different issues - WCL is for first train and MEL for balance , and i think that is what is indicated in the LNG presentations.
interesting times at the moment. cheers
LNG Price at posting:
42.0¢ Sentiment: None Disclosure: Not Held
