STO 0.00% $7.42 santos limited


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    BG have just reported 2014 end of year

    Their approx. $20.4Bn QCLNG has been written down

    Impairments excluding QCLNG pipeline:
    -2.7Bn  - remnant assets
    -4.1Bn  - for reduction in assumption of future commodity prices
    Total -6.8Bn
    This impairment is significant

    They expect sale of QCLG pipeline to be a profit of around 3.3Bn

    Shows that selling pipelines is a good way to offset the impairment. The market reaction to BG results seems mild.

    What will STO do ? sell a pipeline !

    We would hope that the market has priced in the write-downs that STO will have to do for its share of GLNG.

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