"Shell/QGC have two upstream plants. The other three players do not. Upstream presents near term revenue opportunity and the investment to get there is manageable."
With respect that is not correct. Most of the CSG produced water in Queensland is treated. Very brief outline of some of the Qld csg wastewater treatment plants
Shell/QGC - has three main facilities, Kenya, Wolebee Creek and Windibri
APLNG - has facilities at Spring Gully, Talinga , Condabri and Reedy Creek
Shell/Arrow - utilizes the facilities of Shell/QGC and has own additional capacity such as Tipton and Daandine RO plants
Santos/GLNG - has numerous upstream RO Plants incl. Roma, Hungry Jungle, Fairview, Scotia, Tarcoola and Arcadia and that Leewood RO Plant
Senex (POSCO/Hancock) - Atlas water treatment facility
Queensland Pacific Metals - Moranbah RO plant (Moranbah Project was owned by Arrow and AGL)
Comet Ridge - Mahalo Project RO
etc etc
Ann: Becoming a substantial holder, page-33
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