LNG 4.65% 22.5¢ liquefied natural gas limited

that's correct. it reflects the market's disbelief that LNG...

  1. 110 Posts.
    lightbulb Created with Sketch. 33
    that's correct. it reflects the market's disbelief that LNG management will get this done or the heightened confidence in other developer's commercialisation strategies.

    Whilst GV has been blaming the world, oil prices, trade wars and supply glut whilst collecting $1m per annum:

    Tellurian
    TypeDatePlantCountrySellerBuyerTonnesTenor
    1MOUDec-18DriftwoodUSTellurianVitol1.515
    2MOUFeb-19DriftwoodUSTellurianPetronetEquity stake

    Greenfield US developments - 11.5mtpa signed
    TypeDatePlantCountrySellerBuyerTonnesTenor
    1SPAMar-18Calcasieu PassUSVenture GlobalShell220
    2SPAMar-18Calcasieu PassUSVenture GlobalEdison120
    3SPAMay-18Calcasieu PassUSVenture GlobalBP220
    4SPAMay-18Calcasieu PassUSVenture GlobalGalp120
    5SPASep-18Calcasieu PassUSVenture GlobalRepsol120
    6SPAOct-18Calcasieu PassUSVenture GlobalPCNiG120
    7SPAApr-19Rio GrandeUSNext DecadeShell220
    8SPAJun-19PlaqueminesUSVenture GlobalPCNiG1.520

    My reason for sharing is I have genuine concern for the ability of management to convert - I have expressed my views on why previously. Venture Global has consistently signed SPA's since Mar18. I hope, but sincerely think not, that the current crop of the Board are putting any decent challenge into this strategy as they have no skin in the game.

    Whilst IDG may open some doors and help seal a minor supply deal once Trade War is done, i think the only thing that will lift confidence in this for shareholders and balance of capacity buyers is for the foundation SPA to be a major IOC and take a project equity stake. The company has wasted 6 years (i.e. since 2013 since flimsy MOU's signed with punters and a Chinese contractor ebfore that) trying to get this to FID without one.
    At $150m market cap against costs to date of $400m and a unique selling proposition that is now gone*, something needs to change with this company.

    * Tolling price - all are now pricing under $2.50
    * Shovel ready - most are now sufficiently advanced and FERC are fast tracking approvals
    * cost per tonne - recent pricing by Bechtel at $540/tonne seems to be the norm now.

    At 26c, its a very difficult and sporty bet.

 
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22.5¢
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Mkt cap ! $129.5M
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22.0¢ 22.5¢ 21.5¢ $68.41K 311.6K

Buyers (Bids)

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1 181106 22.0¢
 

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Price($) Vol. No.
22.5¢ 147999 5
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Last trade - 16.10pm 18/10/2019 (20 minute delay) ?
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