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just had a chat to a few people up there.
apparently they have leased quite a few homes but most recent sales activity has been from individual investors rather than Gorgon (or a subsidary)
I personally would much rather everyone holds off trying to buy Pilbara property just because they think it's the way to cash in. Think a lot of people may not get out of Gorgon what they expect.
Check out a few of the ashburton council minutes. quite a few applications for temp. accomodation facilites in the shire (inc on Barrow).
anyways, will be interesting to see how it all progresses.
I believe none of the future gas production in gorgon have any price locked inNatural Gas Glut Overwhelms Speculators, Defies Rally
Price Collapse
New production in Qatar, which has the world’s third- largest gas reserves, is a legacy of decisions made years ago. As gas tripled between 2002 and 2008 and Qatar increased investments, the nation avoided locking in prices for about half of its new LNG in anticipation of further gains, according to consultant Wood Mackenzie Ltd. Instead, the global recession caused prices to collapse 25 percent last year.
“Qatar has had to supply the U.S., even though the returns are absolutely awful, because it is the sink for cargoes that can’t go anywhere else,” said Tony Regan, a consultant with Singapore-based Tri-Zen International Ltd. and a former executive in Royal Dutch Shell Plc’s LNG business. “It’s the worst possible moment to increase production, because the world is in recession and prices are so low.”
U.S. gas production rose last year to its highest since 1974 as the industry exploited extracted gas from new areas.
I believe none of the future gas production in gorgon have any price locked in
The risk is that it is usually difficoult to find funds for developing something that at present is in oversupply. I would expect works at gorgon to proceed slower then previously forecast
High equity
You obviously dont know how mining companies work.
offcourse they spend millions without having made a sale. It happens all the time. thats the risk!
Look what happend to Twiggy when the iron ore market collapsed last year - half his customers just walked
There are never any gurantees - even when contracts are signed - just ask Dubai!
Brazil's Petrobras makes big natural gas find: Peru
LIMA -- President Alan Garcia says Brazil's state-run Petrobras has found at least 1 trillion cubic feet of natural gas in Peru's jungle, enough to ensure the Andean country's gas supply through 2050. But Garcia says final confirmation of the find is still pending.
Massive Oil & Gas find in Tibet
Chinese researchers have discovered massive new gas and oil deposits totaling an estimated 4 billion to 5.4 billion tons in Tibet in southwestern China, the newspaper China Daily reported. The estimates, though tentative, will likely aid China's attempts to increase foreign interest and investment in its western regions, which in turn will strengthen Beijing's control across the country. Should further exploration prove the government's estimates correct, the Qiantang field would be one of the world's largest petroleum reserves.
China confirms major natural gas find 【字体:大 中 小】 【关闭窗口】
A new natural-gas field in Northeast China has proven reserves of 100 billion cubic metres more than double this year's estimated production Daqing Oilfield said yesterday after a State expert team verified the find.
Last month, Wang Yupu, president of Daqing Oilfield Co Ltd, said a preliminary probe showed that the gas field has reserves of at least 100 billion cubic metres.
The new gas field, named Qingshen, is located under Daqing oilfield in Heilongjiang Province, which produced 46.4 million tons of crude oil last year.
http://au.news.yahoo.com/thewest/business/a/-/business/6595852/chevron-signs-gorgon-gas-sales-deal/
some more offtake... barely makes the headlines now!
Doesn't seems that hard to work out the value of the new deal, the problem is that all those deals will be eventually valued at prices when gas is supplied. Unless you hedge future prices, but, of course, none is going to hedge all the gas prices now for so many years ahead, all those values are worth not much more then a gamble at the casino...Chubu signed a long-term sale and purchase agreement for 1.44 million tonnes of liquefied natural gas (LNG) per annum for 25 years.
While Chevron did not put a value to the Chubu contract, a previous 15 to 20 year deal with Korea Gas Corp for 1.5 million tonnes a year was understood to be worth up to $30 billion.