Not true.
They were always going to sell down to a more conventional position, not so normal in the industry to hold more than 50% through the development and production phases.
And not really true that they lose control. They can remain operator even if they don’t remain the largest holder.
I don’t see any surprises. I’d have been very surprised if they decided to only sell 20%. 30 to 40% were imho always the likely range, and it is still open as to what level they sell down.
Whilst decommissioning might cost them a heap more than they’ve expected, it was always a risk they’ve known and in the context of their whole business not such a great deal. The same cost pressures that have driven up those costs have driven the LNG price very high. Swings and merry go rounds.
EL
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Price($) | Vol. | No. |
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