Pieridae Energy Ltd T.PEA

condensate hedges ended at start 2022

[downwithdotcom1]

in addition to reducing out of money NAT GAS hedging, a whole bunch of out of money condensate hedges came to an end jan 1st..rough calculation means an extra $2 mill a month (and higher on current spot pricing). Be interesting on many fronts..i still maintain that a LNG facilty at GOLDBORO is still possible..EUROPEAN prices aside, this is NOW A MATERIAL ISSUE OF SECURITY OF LNG SUPPLY..invasion of UKRAINE?? sanctions on NORDSTREAM, shutting down nuclear in GERMANY, an alternate safe supply of LNG (at reasonable prices) is now needed more than ever...dwdc

[commonsense9]

Reading the financials closely, I have always thought that Pieridae would be close to breakeven, even with the drag the hedges have been, if it was not for those insane interest payments. (Though keep in mind that 2020 their first full year with the Shell assets they benefitted greatly from the heavy hedging, and claimed credit for that. So they got one year better than otherwise out of the

[commonsense9]

This is why the now defunct Sales Agreement with Unifer required half of the LNG to land in Germany,  Uniper could care less where the LNG lands- they are a powerhouse European and global broker. (And they dont need the gas for their electricity plants that are the sunset part of their business.) That Sales Agreement was intwined with the possible loan guarantees from Germany. What was

[ofirme]

lng facilities in Germany are financially viable - especially fsru units.  As far as limitless supply from the u.s - you are extremely wrong. lng facility is > $8B per 1bcf/d. The u.s ships a lot to latin america, asia, europe & middle east. most of the long term contracts  are with marketers and not final customer. on top of that, the lane to Germany from the eastern  

[commonsense9]

You did not pay attention to what I wrote. There is plenty of terminal capacity to expand the amount of LNG going into Germany But the government wants one on German territory. Infrastructure of that size, unless it is government owned, does not get an FID without take or pay contracts. The promoters in Germany cannot get any locked in contracts (except for GoldboroLNG, but that Sales Agreement