re: News: Eastern Star Gas sells stakes in LN... So now that ESG is effectively the lead developer of the Gunnedah and the coal seam gas industry in NSW , I'm sure STO isn't interested.
Look at it this way , if ESG gets the LNGN going ( not to mention the Wellington power station ) , all the other Gunnedah participants , including STO , are going to have somewhere locally to sell their gas. I wouldn't be too disappointed if I was a Gunnedah permit holder but I didn't have enough cash to fund a development. Especially , as a result of this development , the pipeline link from Sydney to Roma is completed. The opportunities that will be created that are not there now will be huge.
I know Sydney Gas are selling a bit and MEL have their proposed power station and Brissy pipeline in the works but in terms of progress , ESG is well ahead of everyone else.
Even if STO misses out on ESG , it looks like ESG is still going to be the main developer of the NSW coal seam industry in the near term so I don't see how STO can lose considering they are already a partner. Send some gas north and sell the rest out of NSW.
What I can see however , is how STO much MORE they will benefit if they do takeover ESG.
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