Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Https://au.finance.yahoo.com/news/increase-aid-call-made-nations-163000056.html
If this is true, no wonder TL can't seem to get and funding over the line. I was hoping that signing up to the WTO might provide the sort of investor protection required and remove the final hurdles for attracting investment...
vt - if your theory about betano is correct, can you explain to a simpleton like me how it would work in practice please? are you saying gas could literally be pumped from chuditch to the power station at bettano? if so, what processing would the gas require and would the power station use all the gas or would there be a surplus and if so what would happen to that? i’m assuming if this all works, then the gas doesn’t need to be liquefied, so the capex for getting it up and running would be a fraction of building an lng plant either on land or floating? or am i taking complete ****e? 😂
* I mean if they want western companies to invest in Kurditstan, KRG can't go about ignoring judgements issued against them. Adhering to an International Court of Arbitration is fundamental to FDI
I suppose if they want any western companies to invest in KRG, they can't go about knocking debtors...
Two questions spring to mind.
1) If there is no chance of KRG paying up, why proceed with the arbitration?
2) From KRG's perspective, if they can't / won't pay, why not just save legal costs and roll over now?
I suspect greater legal minds than ours have come to the conclusion that an award is enforceable, otherwise the whole process is a waste of time and money for both sides
As much as I’d love the next RNS to be the big one, I suspect we have a couple of inconsequential ones to digest first. The next one will probably be confirmation of receipt of $1M for past expenses and the one after that will probably be to do with the environmental permits. I’d imagine any form of funding or JV will be contingent on obtaining environmental green lights. I’m sure they are a formality, but if they involve public consultation, they’ll take time…
I’m pretty sure the money was borrowed from the petroleum fund, so I’d imagine the deadline could be extended. That said you’d have thought I’d would be a political disaster if they did extend. There will be politicians in TL whose future relies on Timor Gap’s massive investments succeeding, so compromises maybe made to meet the deadline ie green slight FLNG at Chuditch
FCFY - you appear to have a more detailed knowledge of the history of BB/Miran than I do.
At the end of the day it is for the arbitration court to decide, unless of course KRG fold. The case is due to start on 19th, so we'll have to wait and see if they do or not.
I suspect the ace up Genel's sleeve is KRG's incompetence and corruption in pulling the PSC. If the judgement is in our favour, we can all speculate how large the award should be, however it doesn't get away from the question of how/when KRG/FGI would be able to pay. Unless of course the Russians or Chinese are waiting in the background with their chequebooks.
It would have taken billions to develop those gas fields. It is highly unlikely Genel could have done so on its own. I suspect part of the reason for KRG canceling the PSC was that it wanted a bigger operator with deeper pockets who could develop the fields quicker than Genel ever could. All this is now irrelevant of course. I was thinking about this this morning and wondered if there is any chance of KRG attempting to settle this early?
Boil won't be bought out. They might sell Chuditch, by selling the holding company Sundagas. If that happens I would expect a large special dividend - the size of this would depend on how much they sell Sundagas for and how much they decide to retain to invest in future projects.
At the end of the day, if you're in this share waiting for Chuditch to be sold, daily SP movements are irrelevant. If the asset is sold, you'll wake up one morning to a huge special dividend and will wonder why you spent the previous couple of years stressing about the SP.