That was because the prognosis for getting extra gas supply into Gladstone from CSG operators over the next couple of years at reasonable prices was not good. This is now playing out for all to see with east coats gas shortages in the news every day. This was a reluctant but good practical management decision for the short term. Once BH & Maggy are underway they will always be able to resume in Qld because nothing much else is going to happen at Gladstone in the meantime.
That said, there are plenty of gas opportunities with massive amounts of stranded surplus gas prospects in the NT & WA which are not currently linked by pipeline to the eastern states and even when NGP is complete its capacity is very small. There is nothing like the gas pipeline network in Aus that there is in Nth America, which is where I guess you hail from.
LNG Price at posting:
49.5¢ Sentiment: Buy Disclosure: Held
