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To: zebra4o1 who wrote (184207)	6/2/2014 5:24:25 PM
From: Dennis Roth	1 Recommendation Read Replies (1) of 206176

Aust LNG forecasts are ‘crazy': report June 03, 2014 5:30AM theaustralian.com.au Fereidun Fesharaki, a former energy adviser to Iran with strong links to liquefied natural gas (LNG) buyers, believes expectations for gas prices based on Asian demand are too high, potentially forcing new local projects to the sideline, according to The Australian Financial Review. Dr Fesharaki said that projects already in the pipeline with locked in sales contracts were not at risk, but new projects will need to lower their costs or will be wise to “wait until the market changes”. “The customer that everybody assumes is there based on these crazy demand forecasts is just not there,” he told the AFR. The report suggested Dr Fesharaki’s assertion that new projects will need to supply LNG at $US13 per thousand cubic feet of gas could put great pressure on Woodside Petroleum’s planned Browse floating LNG project as well as Santos’ Bonaparte joint venture in the Timor Sea and an expansion of the mammoth Gorgon development in WA.

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