Breach of contract is the same thing, but the loss suffered because of that breach cannot be the same.
The french sub deal had not started much beyond planning, hence they negotiated a settlement of $835m.
The Australian government will pay French shipbuilder Naval Group $835 million in compensation, after last year's decision to tear up a $90-billion contract to build 12 submarines.
www.abc.net.au
These gas contracts are for 25 years with capped prices to multiple countries.
Firstly, a court could order specific performance of the contract. Meaning than the court won’t allow Aus to walk away because they simply changed their mind.
Secondly, if damages were to be sought, they would need to compensate the buyers of the LPG at the projected spot rates for the remainder of the contacts.
Thirdly, the reputational damage would be unquantifiable as you would lose buyers like Indonesia, Malaysia, Japan and that alone could be 10 fold any benefit you might gain from exiting these dumb contract.