So we have agreed to go to arbitration and have the contract interpreted for us. And this is actually a good thing. It’s a positive outcome, because it allows us to get everything clear before we would start to reuse those cargo optimization options, which comes at the end of the commissioning period, which is sort of around the middle of €˜24. So getting everything lined out and sorted out in terms of how it would actually work is an important step forward. And we’d have all of that sorted out, I think, within a year as we go through that process. So those are the key updates. But going to the market now with Phase 2 at the same time as we’re discussing Phase 1 allows us to get a really good understanding of the sort of fixed nature of the future contracts and the spot nature and then optimizing that between Phase 1 and Phase 2.
James Hosie: Okay. I guess, a follow-up for me just if I just wonder a little bit about the future project you’ve got both in Senegal and Mauritania. I guess we’ve seen some press reports that, I guess, naturally indicate the country is very eager for you to get on and develop them. Is there increasing pressure on yourselves in BP to commit to Yakaar-Teranga or is it just noise?
Andy Inglis: No. Look, I think it’s actually a positive, James. I wouldn’t see it as a negative. As I sort of step back, I think yes, real alignment amongst the government, the NSCs, BP, Kosmos around the development of our resources. And again, from a BP perspective, they view it as a key part of their strategy for the development of Brazilian hydrocarbons. So I think we’re moving forward on both of Yakaar-Teranga and BirAllah. Yakaar-Teranga will have a domestic element to it. Clearly, the project is aimed at displacing heavy fuel — expensive heavy fuel on for power generation in Senegal and enables us to start the project in that way with a competitive domestic gas project with the option then of LNG export. In Mauritania, the — there is a difference, because you’re looking primarily at an LNG scheme there.
And again, we’re looking at a way in which we can get an efficient phased approach that uses some existing infrastructure in a port in Mauritania. So for us, it is about how do we continue to progress those projects and that absolute alignment between BP and Kosmos to do that, do it in a way where we come up with really competitive schemes that compete. And yes, ultimately, there may be a choice within Kosmos around, which ones we invest in and which ones we bring in partners. But I think that’s ultimately a great problem for us to have going forward. So I don’t feel any pressure. I think it’s great. I think we have a resource the world needs and we’re addressing energy security in Europe. We’re creating affordable power in Africa and ultimately contributing to a lower carbon fusion.
If we can do all of that, I think we’re only — we will only create value for Kosmos’ shareholders. So I’m excited about it in Phase 1 moving forward is just a signal, I think, of the progress that we’re making.
James Hosie: Good. That’s great answer. Thank you very much.
Andy Inglis: Great. Thanks, James.
Operator: Thank you. Our next questions come from the line of Mark Wilson with Jefferies. Please proceed with your questions.
Mark Wilson: Alright. Thank you, I got two questions, one on the GBS concept and one on exploration, please. On the GBS, you’ve talked before about the floating concept for Phase 2 being approximately $1 billion CapEx. Now that was a few years ago. We’ve had inflation and it appears to be a bigger scale. But I’m just wondering if you can give any sort of parameters to help us on what you think CapEx of that concept select could be, maybe as a percentage of Tortue Phase 1 as one example. Also on the GBS one thing — I was going say one thing that strikes me — yes, one thing that strikes me is you built all these concrete caissons for Tortue Phase 1, so there’s a big knowledge of using concrete to build large things in Senegal. So is that part of the concept like as well, local content and possibly building it there? Thank you.
