I think I found what you're referring to but I don't think you're understanding the language in the permit correctly. The only thing I can find that could be misconstrued to support the permit revocation hypothesis is this clause:
D.
Transfer, Assignment, or Change in Control
DOE/FE’s natural gas import/export regulations prohibit authorization holders from
transferring or assigning authorizations to import or export natural gas without specific
authorization by the Assist
ant Secretary for Fossil Energy.
400
As a condition of the similar
authorization issued to Sabine Pass in DOE/FE Order No. 2961, DOE/FE found that the
requirement for prior approval by the Assistant Secretary under its regulations applies to any
change of ef
fective control of the authorization holder either through asset sale or stock transfer
or by other means.
The part you're missing in your assumption is that this clause is really only to ensure that the original owners of the permit are the ones who have the majority power over whichever company the assets and permit would be transferred to, which would require prior approval by the Assistant Secretary.
This would be necessary if Delfin were selling their assets to another company that the Directors of and Owners of Delfin would have no control over or voting power.
The fact that Delfin holds 71% of the company TGLO is enough assurance to allow the transfer of the permit or assets against the concerns laid out in this clause.
DOE/FE construes a change in control to mean a change, directly or indirectly, of the
power to direct the management or policies of an entity whether such power is exercised through
one or more
intermediary companies or pursuant to an agreement, written or oral, and whether
such power is established through ownership or voting of securities, or common directors,
officers, or stockholders, or voting trusts, holding trusts, or debt holdings, or contract, or any
other direct or indirect means. A rebuttable presumption that control exists will arise from the
ownership or the power to vote, directly or indirectly, 10 percent or more of the voting securities
of such entity.
"Such power is established through ownership or voting of securities, or common directors, officers . . ."
"A rebuttal presumption that control exists will arise from . . ."
Delfin owns more than 10% of TGLO as a shell so this clause is irrelevant and nowhere does it state that the permit should be revoked anyways.
