I still think the likely suspect is PetroChina per the 6p Reserves post..
From Wikipedia >>> PetroChina Company Limited is a Chinese oil company and is the listed arm of state-owned China National Petroleum Corporation (CNPC). It is China's biggest oil producer and was the world's most valuable company by market value as of September 28th 2010. Traded in Hong Kong and New York, the mainland enterprise announced its plans to issue stock in Shanghai in November 2007, and following its debut on the Shanghai Index, its market value tripled, making PetroChina the first company to reach a trillion dollar market capitalization.
CNPC via PetroChina (I think) have 20% of ASX LNG ... the Chinese are astute enough to focus on the most efficient means of securing gas supply. A sub-control holding is a smart, palatable route to the gas imo as it removes many approval hurdles and operational headaches.
Imo, ASX LNG is but a back door vehicle for staking a major claim on MEL's gas ... PetroCHina don't feel compelled to have control over MEL but they are driven to claim all/most of their gas ... they are the funds and muscle to make it happen.
Watch for a surpise GSA of decent proportions via LNG imo.
PetroChina could well be a major funder of an LNG Gladstone LNG plant and of MEL's Lions Way Pipeline.
A preferable route to a premature t/o I feel.
Dex
MEL Price at posting:
54.0¢ Sentiment: LT Buy Disclosure: Held
