Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Can someone explain how 1.8m shares traded and nobody panic selling how we are at 38p, is the price just what the market makers want it to be?
China plans to pour almost $7 billion into floating liquefied natural gas (FLNG) projects in Africa, betting on a largely untested technology in the hope that energy markets will recover by the time they start production in the early 2020s.
Western banks are wary due to the depressed state of the shipping and gas markets, as well as the technical difficulties of pumping gas extracted from below the ocean floor, chilling it into liquid form on a floating platform and transferring it into tankers for export.
China, however, is making a strategic push into FLNG, aiming to become the lowest cost seller of the complex floating plants and lead the global rollout of a technique that remains in its infancy, with only one project in commercial production so far.
The country needs gas as a cleaner alternative to coal under a drive to improve air quality in its cities, and has already lent $12 billion to Russia's conventional Yamal LNG project in the Arctic as U.S. sanctions scared away Western banks.
It has also lent or committed almost $4 billion to three FLNG schemes off the African coast. In two more African projects costing a total of $3 billion (2.36 billion pounds), it plans not only to provide the funding, but also build the production platforms.
"We see a real commitment to FLNG in China both from the construction side and from the LNG consumption side where decreasing costs mean potentially lower cost LNG," said Steve Lowden, chairman of Jersey-based NewAge which is planning FLNG projects off Congo Republic and Cameroon.
China already dominates the global market for solar panels and is a major supplier of coal-fired power plants, aided by easy money, cheaper labour and state support.
Now, with Beijing pushing President Xi Jinping's "Belt and Road" vision of expanding trade links between Asia, Africa and Europe, it is turning to FLNG to bring high technology work to its shipyards and create jobs - a strategic priority.
FLNG is also attractive to resource-rich but debt-burdened African countries. Projects can sail into place, drop anchor, and begin exporting for much less than the cost of onshore plants, the price of which quadrupled in the decade to 2013.
That, at least, is the theory. The reality is that the technology remains complex. Royal Dutch Shell's (RDSa.L) mammoth Prelude FLNG plant, for example will be aboard the world's biggest floating structure, but must squeeze the equipment into a quarter of the space occupied by an LNG plant on dry land.
Wave motion and ocean currents add to the difficulties.
The $12.6 billion Prelude project, which is due to start operating off Australia in 2018, is typical of those conceived during the era of high energy prices. However, spot LNG prices have fallen 70 percent since early 2014 and are expected to remain under pressure or drop further due to extra supply from new conventional plants in Australia and the United States.
Despite this, some producers and buyers are ba
Ta for that
interestingly there is a licensing round in progress at the moment and one of the blocks is the Etinde Exploration block to the South East of Etinde, which BLVN had relinquished in 2014
http://www.snh.cm/index.php/en/hydrocarbons-in-cameroon/launching-of-2018-licensing-round
Wonder who will be bidding on that?? Results were supposed to be out in on 18 July but I can't see anything yet...
looks like they have, yes - page 19 below:
http://www.snh.cm/images/publications/Rapports%20annuels/SNH%20Annual%20report%202016-EN.pdf
Why does BLVN always seem to disappoint.... continued ill buying and they mark it down... maybe one day.
Do we have any definite news as to whether SNH will claim (or have claimed) their 20%. I know that Bow's site says this but ... ??
Once we get to big numbers there's a fair difference between 20% and 25% of a project ...
Surprised there haven't been any murmurings about a New Age IPO... Would be good to see them listed in London.
FT article from 2016 gives some idea of valuations https://www.ft.com/content/51067150-77ff-11e6-a0c6-39e2633162d5
That's your answer as to who has been buying up to 40p. The buy order took a while but they got there in the end.
steady on too many false dawns,
Could be fire works tomorrow
And they keep buying
Nm
Maybe not 41 but it would seem to tide is turning..
41
That this will finish under 40p.... anybody want a wager?
There is a buyer... and he's been pretty solid last couple of days.. the algo seems to try and keep it below 40 so that they can buy...
40.45 again ,another go at going over it
be nice if it slowly crept up, nowt nuts.
Do we really want SP action before the drills are finished and the new CPR is issued.?? Might it be better to chug along as we are rather than see a pre-emptive bid (all done and dusted at 60 - 70P ? ). Once the CPR is in then let us be sold for top dollar with (hopefully) competitive bidding.....
I wonder if NA are thinking about an IPO again?? If so then the incredible, successful Cameroon development would be a good USP later on this year...
( Swap yer shares for NA's, perhaps)
strange
There cannot be many share left to sell... 6 times now so maybe today is the day.
hitting that 40.45 again ,another push needed
rig based in Cameroon on the Newage oil website
no demand ...