RE:RE:RE:RE:RE:RE:RE:Shell Transfer Applications Set for an AER Public Hearing Sorensen is not stupid. He's just doing a risky high wire act where he doesnt talk about the risks.
For the LNG business plan its all about locking in gas at low prices. Doesnt matter to that business plan if they are not profitable now. The gamble Sorensen takes is that he can make these dogs work long enough selling to the brutal market, and get the FID soon to wipe away all those problems of the money losing operations.
The next layer of the gamble is that he can get the FID soon enough.... when absolutely no part of the financing is nailed down, and never has been.
Meanwhile, they are bleeding several million in cash each quarter that they dont have, have already maxed out Payables, and it will now take a miracle to get the FID before late in the year (if ever).
And there are some other very big risks that are hardly touched in terms of "taming" them.