where are those die hard supporters now, page-33

Kiwi,

Firstly I do not believe anyone on the CUE threads want Artemis to be a duster. Most do have a more sober view on it's prospects, and many try to inject a little more realism. They also try to resist the debate of the one prospect overshadowing their other assets - nothing sinister.

As for alternatives to whatever Petrobras may want as a standalone facility, there is the existing NW Shelf project, Woodsides Pluto (looking for gas for extra trains), and Chevron's Wheatstone (which Apache was happy to sell a recent gas discovery into). Very importantly selling it's share into domgas could be very attractive [and could fully meet the JVs obligation to reserve 15% of the field for domgas]. Domgas requires a much smaller capital outlay, and could even be done on a tolling basis for no upfront outlay.

Huge unknowns atm about the shape of LNG markets in a years time, gas quality (if any), field size and what the Petrobras plan would look like. Why would you effectively want to sign the FID now, and put it in an envelope marked "only open upon discovery" ?

Corporate prestige/ego could sway Petrobras to a standalone facility regardless of the investment merits. I think the same could be said for MEO with it's own LNG ambitions. Not so for CUE or MOG (who may have other reasons for agreeing).

EL