Gasol (LON:GAS) - Build it and they will come
Oct 29th 2012 - Edison Investment Research today published a report on Gasol (GAS.L, LSE:GAS, LON:GAS) entitled "Build It And They Will Come". In summary, the report says:
We believe Gasol could be close to its first liquefied natural gas (LNG) re-gasification project. As stated in a recent media report, the company has signed Memorandums of Understanding (MoU) to provide gas to a Middle Eastern country and Benin and Togo (it continues negotiations elsewhere). We have therefore explored what a potential smaller-scale project could look like and examined the main drivers to value creation. Our illustrative, theoretical modelling indicates that a project in a benign marine environment close to existing gas infrastructure (possible in the Middle East) could generate value well above Gasol’s market cap for a restricted initial capital outlay. First revenues could come in 2014 and would be the first step in Gasol’s larger strategy of...
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