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Re Tidds post….
‘Let’s take a stab who this party is, id assume Vitol.
The fact we are so close to FEED conclusion with a likely increase on many fronts including 40 year project life and projected NPV/IRR is a tell.
Bluechip offtake discussions moving forward and a submission to request approval for grant funding 6x the mcap. A board lumping in £350k on market of their own money and a capitalisation of just £5m?
You can’t get anymore obvious for a standout buy in terms of risk/reward in my view. This moves very quick as seen today and those short sighted who can’t clearly see the potential returns from a project of this size are likely to miss out.
At £5m there is a hell of a lot of upside.’
I agree….here’s my post from Sunday
‘Arun has already secured a huge deal with Vitol, therefore he has the most excellent contacts with that very company and they obviously place as great a trust in him as we do!.........They will be very keen to deal again with Arun.....a lot of background relationship work therefore has already been done (on Aruns previous negotiations on the other contract)....sometimes, this can be one of the most difficult hurdles!.....We are streets ahead here!!
Soon....very soon! .........GLA!!’
And probably worth posting these again…
‘http://www.vitol.com/wp-content/uploads/2016/09/Vitol-brochure_2016-1.pdf
'When appropriate, our traders work alongside our finance and E&P teams to develop commercial structures which allow us to finance producers’ operations in return for offtake.'
So is it possible that Vitol could Finance AND offtake islandmagee?’
‘Further to Spud's great post...especially the bit about VSA chairman saying...'But it requires quite complicated funding which wont come from normal institutions and that is the whole key and all you need to watch' .
I like the end bit.......'and that is the whole key and all you need to watch' !!!
Infa RNS July 26th
.........'Arun Raman has spent the past 20 years within the commodities and infrastructure sector. While at Star Energy Group plc (now known as Petronas Energy Trading Ltd.), Arun was responsible for commercialising its 10BCF Humbly Grove Underground Gas Storage Project, including the negotiation and commercial delivery of the Gas Storage Agreement with Vitol SA as the capacity offtake client. '
Surely it must be Vitol SA that is lined up for Infa's offtake?
GLA’
‘I don't think Arun Ramon was brought in for nothing !!!’
‘Some very interesting snippets from Vitol website.
Vitol Website excerpt
https://www.vitol.com/what-we-do/terminals-storage/
‘……
Vitol invests in a number of ventures providing terminal and storage facilities globally. In total we have circa 18 million cubic meters of storage capacity in terminals across seven continents…..’
Vitol Website excerpt
https://www.vitol.com/what-we-do/trading/natural-gas/
post 2 to follow...
continued....
https://www.vitol.com/what-we-do/trading/natural-gas/
‘We have been trading natural gas for over 15 years. Global contracted sales in 2017 were 791TWh. Our gas teams operate across continents – Europe, Asia and the Americas – in both pipeline product and LNG.
We work with producers, importers, wholesalers, distributors and industrial users, and supply gas both as a pipeline product and in liquefied form, under a variety of fixed and floating gas hub indexations, oil indexed formulae and other related commodity pricing structures.
We are happy to commit to long-term supply and sales contracts, plus we can respond swiftly and innovatively whenever our customers need us to. Our natural gas business is part of an integrated cross-commodity solution that makes us an ideal partner for both producers and end users.’
Vitol turnover circa 14 Billion US$
Gut feeling says (as I said in previous couple of posts posts) that we already have our funding and offtake sorted. Great feeling about coming week(s). ''what did they say about negotiations....in advanced stage!''
GLA’
This is all in safe hands now........(my bet obviously is VITOL but all Blue Chips are safe hands and calculated in the multi-billions.
Nice posts, Snowman. It's coming into your time of the year to shine soon!
Keep the faith.....the voyage has only just begun ....if you stay on board you will not be disappointed ..OK