wcl t/o metrics, page-8

Jake

Re your question about satisfying Gladstone Ports by the end of the year-
"How do they do it? i simply don't know.
Maybe a Guarantee from petro to Glad Ports maybe?
maybe gas from C/Basin? "

I think you pretty much answered your question

MB explained how things will go in a recent market briefing as below. My read on this is Petrochina is going to take on the risk of supply via the tolling agreement. This will satisfy contract terms with Gladdy ports because they know the project can move forward finally because Petro are committed to pay LNG Ltd for processing x amount of gas from some date to be specified, 2015? If Petro didn't have sufficient gas then they pay anyway. The good thing is we know Petro will need all of our gas to have a chance of getting one train to run at 2/3 rds capacity..

"The significance of the proposed Tolling Agreement is that the LNG Limited Fisherman’s Landing LNG
Project can proceed towards a final investment decision. There is no requirement for a Gas Sales
Agreement or an LNG Sales and Purchase Agreement. The Tolling Agreement will allow LNG Limited
to raise both project equity and project debt to proceed. It also allows LNG Limited to proceed to
appoint HQC as EPC Contractor and recommencement of construction of the LNG plant and facilities.