News: OXX Octanex not granted petroleum retention leases for Ascalon gas discovery, page-12

Maybe the authority needs to look no further than the HOT NEWS on this afternoon's front page of the HotCopper website for an insight into what is happening in LNG not only within the next 15 years but the next 5 years. Statements re the LNG 5 year future by Chevron, Total and Woodside could not be more convincing about new investment being required.

"CHIBA, April 4 (Reuters) - The liquefied natural gas (LNG) industry will face a shortfall in supply in about five years because low prices have kept producers from making new investments in production, Total SA TOTF.PA Chairman and CEO Patrick Pouyanne said on Tuesday.
"Today we are facing global overcapacity that is putting pressure on prices," Pouyanne said at a gas industry conference in Chiba, Japan.
As a result, "the industry is entering a period of reduced investments this could result in a lack of supply in five years," he said.
"We must carry on investing for the future," he said."

"CHIBA, April 4 (Reuters) - A supply gap is likely to open up in the liquefied natural gas (LNG) industry if new projects are not sanctioned, said Chevron Corp CVX.N Vice Chairman Michael Wirth at a gas industry conference on Tuesday in Japan.
"In the short term, LNG supply is coming online faster than demand is growing, but with continued demand growth in the next decade the market will rebalance," Wirth said.
"So, while we expect ample supply in the next few years ... a supply gap could eventually confront us in the years to follow if we don't eventually sanction new LNG projects," he said."

"CHIBA, April 4 (Reuters) - The liquefied natural gas (LNG) market is headed for a supply shortage in the near future if no new investments in production projects are undertaken, Woodside Petroleum's (WPL) Chief Executive Peter Coleman said on Tuesday.
"The current conditions are not favourable to major investments in greenfield developments ... 2017 looks to be a challenging year for the sanctions of (new) projects," Coleman told the audience at a gas conference in Chiba, Japan.
Woodside, however, expects new demand for the supercooled fuel to come from emerging markets that are likely to adopt floating storage regasification units (FSRU).
"They are simply a game changer for our industry," Coleman said, referring to FSRU technology."

I had a dream.

Peter Coleman - it's Uncle Geoff phoning. I have something to discuss now that would be of mutual and national benefit.