guess the offer price, page-29

If it is Petrochina, the reasoning they would be giving the NDRC would be along the following lines

We are getting a strategic asset which will facilitate the development of a 1.5 million tonne LNG plant to ship gas to China (in line with the 5 year plan to rapidly build up our nations gas resources). Longer term this modular onshore LNG facility will provide us with a significantly cheaper option for monetising our investment in Arrow and Bow Energy where we have sunk $2 billion but now find it is very expensive to develop and pipe gas to market and build out a much larger LNG plant on Curtis Island. Our partners at Shell are thinking along similar lines and we have all seen significant cost blow outs of a magnitude which dwarfs this proposal.

There are no other sources of gas this close to market which can provide that stepping stone to build Fishermans landing. Importantly this deal is value adding and could stand alone- particularly as it allows many synergy to develop our Mungi field assets which we acquired for $50 million under fair value.

Building Fishermans Landing will also reward our brothers at CNPC via their subsidiary HQC with a substantial engineering contract and further our investment in a novel LNG technology.

.............

It is a no brainer for the Chinese anywhere up to $350 million imo, but i still suspect we'll see this deal shape up another way with someone else taking an interest in it..(New Hope?) or maybe BG will bid as they have some cash back on QCLNG now. Question then becomes whether this prompts Petrochina to counter bid..