If we assume that Godot refers to the relatively slow French racing cyclist Godeau [pronounced God-oh] (one of the many theories), then PNG will eventually arrive - so we may be edging closer to the finish line. Is this the start of the third Act?
Whilst PNG may never happen, I doubt that your theory is the reason behind the Stanley Fabian Pok's Stanley cancellation saga. Stanley condensate stripping wouldn't change the value of the gas is the short answer.
Firstly and most importantly, the main game is extract value from the gas. HZN don't care how they achieve this. HZN has stated that WLNG is their fallback project if nothing better eventuates, so HZN is open to all other options. They now have access to the Pn'yang pipelines (gas and condensate).
It has now surfaced that Pok wants a Western Gas Hub - new development and subject of this thread. This could mean some sort of (forced) joint development of Pn'yang and HZN's Stanley, Elevala/Keti, Ubuntu fields. This could mean Exxon are forced to process HZN's gas through PNG-LNG on reasonable commercial terms. Please note that this has not even been hinted at. If PNG-LNG were forced to process HZN gas, then OSH and/or STO would almost certainly purchase HZN's gas/PNG assets.
Whilst PNG may never happen, I believe that there is a good chance that we are slowly inching toward the finish line.
HZN Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held
(20min delay)
