Replies to This Discussion

Permalink Reply by Grillin' - MmmMmm on January 13, 2009 at 12:00

And I had $36 dollars!! By 7:00 pm that too was gone as the wife went out to dinner and took my $36!!

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Permalink Reply by Les Bamburg on January 13, 2009 at 12:26

Rex T would never let that happen!!!

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Permalink Reply by Les Bamburg on January 13, 2009 at 19:24

GS, +/- $20 billion

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Permalink Reply by sesport on January 21, 2009 at 11:41

By any chance is that the Rex T of RCCO?

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Permalink Reply by Les Bamburg on January 19, 2009 at 17:00

Graysands, I would guesstimate something on the order of $12-15 billion, maybe more. In the US majors such as ExxonMobil, Chevron, ConocoPhillips would be possibilities. You could even get a foreign O&G such as Shell, ENI, BG, Woodside or Petronas that could be interested in taking a shale gas position that would have the pocketbook to cover the cost.

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Permalink Reply by Les Bamburg on January 19, 2009 at 17:13

KB, the only reason I did not include Saudi Aramco and Kuwait Oil was because I am not sure if they would have interest in natural gas. But I wouldn't rule it out. Now Qatar Petroleum could be a possibility also but their current policy is to diversify away from natural gas into oil refining and chemicals.

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Permalink Reply by sesport on January 19, 2009 at 17:18

Les - Isn't a middle-east company somehow involved/interested in the LNG export facility in South Louisiana?

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Permalink Reply by Les Bamburg on January 19, 2009 at 17:37

Sesport, both the Sabine Pass Terminal in Louisiana and Freeport Terminal in Texas have applied for permission to re-export LNG cargos that were originally imported from foreign sources. Neither terminal has the technical capability to liquefy US sourced gas and export as LNG.

In theory this would allow any party that has an LNG cargo to temporarily store and sell later in the world market. The probability of this actually occurring is low. Some of the potential customers would include middle-east companies but Japanese trading houses or parties with terminal capacity (Total, Chevron & ConocoPhillips) would be more likely.

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Permalink Reply by sesport on January 19, 2009 at 17:43

Thank you, Les.

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Permalink Reply by sesport on January 19, 2009 at 17:59

To clarify, this is an old presentation but on p.14 it shows the ME interest in S. La., which is one reason I came to that conclusion. Again, thanks Les.

http://www.kslaw.com/library/publication/2007MiddleEastGas.pdf

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Permalink Reply by Les Bamburg on January 20, 2009 at 4:07

Sesport, thanks for posting the presentation. I should have mentioned Qatar Petroleum has 70% (?) ownership in the Golden Pass Terminal. This terminal has 2.0 Bcfd of capacity and was built specifically for importing LNG from Qatar into the US. The terminal was originally planned to be in service by mid-2009 but damage from Hurricane Ike has delayed start-up by at least one year.

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Permalink Reply by Les Bamburg on January 20, 2009 at 7:05

Graysands, BP originally had an LNG Terminal for the Galveston Bay area but it was dropped due to various reasons including local resistance.

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