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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Ed Ajootian who wrote (62667)	4/12/2006 7:55:54 AM
From: Dennis Roth	Read Replies (2) of 206121

>> 1) Why would April LNG be going for $9-10/mmbtu? This price is well in excess of Henry Hub, << The Henry Hub price is irrelevant to world LNG prices except possibly as a floor price. We don't export LNG from Louisiana so the fact that gas costs less at Henry Hub means nothing to Asian buyers. >> 2) Is the main driver of LNG prices presently just the btu-equivalent price vs. oil? << Yes. The price Japanese electric utilities pay under their long term contracts is based on a complicated formula that is linked to the price of oil. >> 3) If the going rate for Atlantic Basin LNG is really $9-10 this month, why would any US LNG terminal take in any cargoes for this month << Gas under long term contractual obligations will come in. Spot cargoes won't if there is tanker time available for the longer journey to Asia.

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