So I think ultimately, this is about quality through choice and therefore, where TEN would rank in our future opportunities. So we do see future potential. It will be a combination in TEN of both oil and gas. But clearly, it’s smaller than we’d anticipated, and therefore, the decision as we look at the capital allocation to take the impairment.
Alex Smith: Both, very clear. Thank you.
Andy Inglis: Thanks, Alex.
Operator: Thank you. Our next questions come from the line of Neil Mehta with Goldman Sachs. Please proceed with your question.
Neil Mehta: Hey, good morning, Andy, Neil and team. Thank you. So congratulations to you guys on getting the FPSO moving towards West Africa. I just would love your perspective on what are the gating items that we should be thinking about, about getting to first gas by the end of the year at Tortue Phase 1?
Andy Inglis: Yes. Thanks, Neil. We’ve achieved a lot on the project. And as you say, it’s not done yet, but we continue to make progress quarter-on-quarter. The FPSO is an important delivery in the first quarter, and we anticipate it being in location in the field in the second quarter, so that’s clearly a milestone for you to track. The FLNG vessel is targeted to leave Singapore in the second quarter getting there in the third quarter. So that’s again an important milestone for you to track. In terms of the drilling of the wells sort of all complete, done, the completions flowed back and we’re very positive about the well results. As we said in our remarks, we’ve achieved very significantly higher supplies for Phase 1 liquefaction so we feel good about the Southeast.
We also feel very good about the hub terminal. I think we included some pictures in the deck, which show that the construction is complete, commissioning underway. And the last terminal will be ready to receive the FLNG vessel when it arrives in the third quarter. So really now, it’s about the completion of the subsea installation. The Amazon vessel is on location in the field now. We’ll complete the lay of the deepwater pipeline and then we start to install the structures. So I think as you sort of think about it, you’re really into the completion of construction of the subsea through the third quarter, beginning of the fourth quarter, mechanically complete, which then enables first gas in the fourth quarter. So the big things to look at are, obviously, the arrival of the FPSO and its anchoring in position, the arrival of the FLNG vessel and it’s looking at connection to the hub terminal, the completion of the installation of the deepwater pipeline and then the mechanical completion of the subsea equipment with the installation of the subsea equipment.
Those are the big things. And as BP indicated in their results, I think the closer we get to it, the more confident we get around the delivery of gas by the end of the year.
Neil Mehta: This is the — the follow-up question is a tricky one because maybe not all the moving pieces are there, so feel free to pass on it. But you gave a 2023 free cash flow number of $100 million to $200 million at current prices. I think for a lot of investors, what they’re really planning for is 2024 because at that point, you’ve got Phase 1 coming online to get that big inflection. Is there any parameters that you can provide around what the free cash flow could look like ex Phase 2 where we haven’t gotten to FID yet?
