wpl to sell down browse stake., page-25

Hardly,

Although I'm in favour of piping Browse to Pluto, I think that Barnett will resubmit an application to acquire the land and endevour to sure up an agreement with the Kimberley Land Council. The last vote was 168 for and 100 against.

In my opinion it is political suicide for Barnett to continue to push Browse and pressure WPL. What is he going to do? Strip WPL & BHP of the project if they choose a more economic alternative and then allow a non-Australian company to come in and rape the Kimberly for a few lease dollars...he will become an enemy of the state.

I think PC is slowly calling his bluff by announcing they are exploring a sell-down of their interest. This is akin to saying 'the econimic viability of project is more important than Barnett's goal to acquire the land legally & reach a valid agreement with the KLC' and that WPL reserves the right to pursue a contingency plan to the NWS or Pluto in the event of better economics, a failed land acquisition, a failed KLC vote or based on any of these conditions.

Given that there are 3 other major LNG projects on the go, delays can only benefit WPL at this stage as WA resources are strained with costs rising. I hope they use this time to evaluate other options much more seriously and solidify their position and strategy amongst the partners - including contingency plans.

That said and despite the fact that the federal government put in a bureaucratic lever last year to bog down further development in the Kimberly region, it is very likely that JPP could go ahead as it was excluded from the recent Kimberly Heritage Listing. Heritage listing of an area does not change land ownership or native title, and existing activities on the land and sea are allowed to continue.

It's all about the economics though. It doesn't make sense to me to build more gas processing facilities when existing facilities are struggling to find gas to process. This struggle is more about WPL wrenching itself free from Barnett and being able to decide where the gas should go based on viable economics.

I cannot find any information about what the PM thinks about this project. When I can't find any evidence that she supports JPP, it leads me to assume that she doesn't. I know she supports Browse and a land based gas facility but has never specifically stated support for JPP. I'm an Aussie ex-pat in Germany though. Not exactly watching the local box nightly.