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There has been much concern over last 3 years about EU reliance on Russian gas. Putin uses it for political leverage. Consecutive PM’s have signed dangerous deals. Ukraine was held to random. Other countries had problems last year when the trans-siberian pipeline failed and they had no gas energy. Sendible approach is never ever to trust Russia. I hope the new administration have more sense than to. Putin must never be trusted. Energy is one of his weapons. Trump is just deluded and we have to live with it.
The UK needs to do what the US has been doing for years...and now China .....trying to become as energy-independent as possible. And to rely on neutral regimes or the open market for imports. Islandmagee and tge new project-if security is handled properly-can be part of tgis. A fool puts his well-being in the hands of the untrustworthy. And that includes the free market.
'BREAKING CITY NEWS APRIL 24, 2015 / 10:08 AM / 4 YEARS AGO
UPDATE 1-Hoegh LNG to deliver FSRU, vessels to UK's Meridian project
OSLO, April 24 (Reuters) - Norwegian natural gas shipping firm Hoegh LNG plans to deliver a floating storage and regasification unit (FSRU) to Meridian LNG’s planned British import terminal, Hoegh CEO Sveinung Stoehle told Reuters on Friday.
E.ON Global Commodities, the trading arm of German utility E.ON, on Thursday signed a deal to buy up to two million tonnes of regasified LNG per year from Meridian, with a final investment decision expected by mid-2016.
Hoegh said it will also deliver two or three LNG transport vessels to the project.
Hoegh shares were up 5.2 percent as of 0851 GMT.
“We developed this project three, four years ago. We sold it to Meridian but we kept the right to deliver the FSRU and two or three LNG vessels,” Stoehle said.
The plan is to buy the LNG in the United States which will be taken to “Port Meridian” by LNG vessels and then transferred to the FSRU terminal which will transfer the LNG to a British pipeline and sold to consumers.
Stoehle estimated the cost of the FSRU at around $330 million and the LNG vessels at around $190-200 million each which will be financed through Hoegh LNG Partners and banks.
If the project gets the final go ahead in mid-2016, its start-up is planned for the first half of 2019.
The 20-year delivery deal with E.ON was the most important step in realising the project, Stoehle said.
The Port Meridian FSRU will be Hoegh LNG’s second in Europe.'
I just wonder what stopped the project.......perhaps at that time the FID didn't stack up? Is the demand higher now?.........Vitol will probably pledge to offtake all 5 million tons per year ? The RNS said the offtaker had requested we look into the project...........that scenario sounds likely and would be fabulous !!!
Thanks,Matey ...will do some research for you ...Maybe concern about future security of supply from Russia IS a factor ....and availability of LNG courtesy of our friend Trumpo !!
I don't know the answer to the good question you pose Snowman 100,( it might be appropriate to enquire of JW), but I am guessing that the market for gas storage in the UK is undergoing a change due to factors such as the closure of Rough, the uncertainty in relation to Russian supply to Europe, and,(i'm sure), other factors that JW and his ilk are aware of. What do you think?
Ultra good spot, Dawski! And INFA has an agreement from Vitol to commit to the entire offtake of Islandmagee. The fact that JW was able to persuade such a highline partner to come on board speaks for itself, (and makes the SP malaise of INFA almost inexplicable). I think I might go again. I don't believe these prices are going to prevail for very long-if at all. Go well, Dawski.
Regarding our FSRU project with Meridian Holdings at Barrow in Furness........
https://www.offshore-technology.com/projects/port-meridian-deepwater-port-morecambe-bay-england/
'The Port Meridian deepwater port project was acquired by Meridian LNG in October 2012 from Höegh LNG for $20m. Meridian was advised by West Face Capital on the deal.'
'According to the terms of the joint development agreement, Höegh LNG will be the supplier and operator of the FSRU, and Meridian will seek commercial aspect of the project involving agreements for LNG imports and the pipeline connecting the FSRU to the gas distribution grid.'
and on the portmeridian website link below
https://portmeridian.com/commercial-advantages/
It describes that once commercial terms were passed by OFGEM a FID was expected in 2017 and first gas delivered from fourth quarter 2019.
Anyone know why the project didn't go ahead at that time?
Snowman, that was a nice rise on jog, well done if you were in there.
I didn’t look to see what the catalyst was for the rise but looking at the Jog website there are considerable differences between jog and infa, Jog has a low number of shares in issue and the amount of free shares is pretty low, good few II in there.
I don’t agree with investors when they say not to concentrate on the amount of shares in issue but to focus on the market cap.
Anyhow let’s see what next week and August bring, it’s been a tough year so far.
https://www.jerseyoilandgas.com/investors/shareholder-information/
Here’s how the price of one AIM companies share price rocketed on transformational news.
Jersey Oil and Gas PLC – Offshore Licensing Round Awards & Option Agreement
Times and share price climb of Jersey Oil & Gas on release of a 07:00 am RNS
07.06 73.50
08.02 73.50
08.10 90.00
08.34 102.00
08.37 110.00
08.39 114.00
08.45 106.00
09.00 116.00
11.56 124.00
12.08 135.00
13.20 169.50
15.36 177.50
Now, 1 week later….. trading at 186.00
The first oil from this licensing will not be produced until 2024.
Just goes to show the speed that a share can rise after transformational news. I think Infrastrata’s rise after the approaching news stream will dwarf the rise of Jersey Oil & Gas.
Good Article in today's Sunday Times ..accepted that for some the level of profit will be obscene but we live in a Capitalist world and society after all. The point really for us is that we are potentially teamed up with the A1 world class player in our sector and, thanks to the background contact and expertise of our BOD,we now will have some clout politically and economically at last ...worth a read !
With you in spirit. Positive outlook appreciated.
Massive news flow coming in anytime over next couple of months. Could be sooner rather than later....I think John may have hinted at that in his last interview.....but he's been bitten once by delays beyond his control...he's a little more cautious now.
The impending possible news flow is massive............equity/debt/1.6Million in coffers/FID/licence/build/update on FSRU...........almost beyond transformational ! .......by Christmas this is in a different ball park!!!
Actually I am interested in what Mitch says. Especially as he is not being uncivil about it. His suggestion is interesting and I would suggest maybe to others too .We can’t know whether people are interested or not as it’s impossible to have any idea one way or the other who’s interested or not from our keyboard/iphone.
I may find it interesting but like you Mr. T I don’t agree. I go along with the delay and I would add a consequent market response / manipulation. A few protestors do not change the regulations regarding marine licences. I can’t change the Highway Code whether I like it or not.
Mitch,
Never mind all that nonsense me old son, lets have the feedback on your email to the fca earlier this year?
What did they say?
What will they do?
Anything?
Come on, spill?
The sp is nothing whatsoever to do with the licence, its all to do with delays, as you know if your a keen follower of aim, delays always spell big falls in the sp no one cares about a licence at the minute I assure you!
But you carry on with your theory, to b honest though no one is slightly interested.
Mr T
I’m with the manipulation theory. They would take my whole holding at 0.48. When they don’t want a share they will not buy. I know they read BB’s and take pleasure at times in spiting holders. But this is all actively pushed down on no real negative market news . Is the norm in AIM now it seems.
Hi tango why wait and pay more get them now
I am sitting on some cash and as soon as the broker leaves the building I will get another 2-3M if still around 0.50-0.60.
Another Good One,Chris .just need .50 to be the bottom for now ..also need Johnson & Co to sort out the sector even if it includes support for Fracking which we are not of course involved in ..also to re-engage with that Big old Fella across the Pond,you know the one with the swept back forlock and long red tie.He may be crazy but he likes Bojo apparently and he is the one who could support us in our struggles with the E.U. and help us get a better deal ..so we can achieve a "fantastic " deal with WTO terms and st**f our friends in Brussels .Thanks to the ineptitude of the truly dreadful May regime we have lost our way in the world.Need to regain it and quick .
You never know, but with Trumpo's help we could even do a "trade" with the Mullahs in Tehran and get poor young Nazarene ( NOT Nazareme! ) Radcliffe freed -now that WOULD be a treat. We need Trumpo on side .Could be our saviour as otherwise Bojo will simply not be able to overrule Parliament ---could go on ..and on ..and ..rant over !
Nazareme:- regarding the EU money it is already allocated just has to be audited/administered there is no worries what soever that the £1.6M will be in the bank by year end. Long term this is a 10x- 20x- 30x bagger from these levels (NO DOUBT).
Is it the Brokers last couple of weeks to manipulate??? Since that day the rns was released (that JW was letting them go), things have not taken off as they should have, call me a cynic but I just say what I think! we will soon see after they have gone what happens:- AIMHOA
So you just spent approx 117 pounds more on a bad gamble.
You will need a lot of rest on that sofa if it takes two years to even get one term of gas in the ground if passed.
Seems like a never ending saga this grant money from eu.
Who will pay if the eu don't get there 39 billion?
The eu and the world is still losing jobs and are still in recession.
The Eu wants an army will they even have to go deeper into debt when the UK is no longer supporting them.
I admire your courage here but would invest somewhere else.
I have been in the back of the sofa & have further topped up with 23,500 shares this afternoon.I hope the worm has finally turned.Regards to all. PS I am back on Strong Buy.
Yep, games - they will take 10m just below current bid of 48.
Bottom imo
Could not resist
Looks like the widened the spread to take the low out. Am tempted to add and see if it bounces back up.
Dont stop dropping very strange . Need some good news to get us back up . Well down now wished i waited