May. 6 at 9:48 AM
$VG In Long Term, every new SPA announcement reduces thr TTF beta of the stock. More SPA means more EV/ EBITDA valuation. Chenieere @ 11-13 EV/EBITDA VG 1/2 of that with 16B debt based calculation. Cheap in that sense.
Fair value is
$14-16 FOR AVG €40 TTF and 43 cargoes a month with %31 spot exposure and
$4 cost per MMBtu. İf TTF AVG 45 it goes 17-20 if 50 then 21-24. And in end of 2027-Q1 2028 Plaquemines P2 fully ramped 80 cargoes a month as Mikr told CNBC yesterday, 960 cargoes 3.4 TBtu * 9 MMBTy margin 29B Rev 45 EBITDA margin 13B EBITDA then CP2 phase 1 anothrr 3-4B EBITDA 2029 run-rate 16-27B. İf all legal BS behind hopefully, a 10V multiple 160B EV -20B debt 140B /3.4B shares 55-60 a share in 2029.