M&A dominoes from potential Waitsia, North West Shelf gas deal, page-17

It would only ever happen if Tolling agreement with BPT-Mitsui comes to fruition. A CAPEX on infrastructure would sort out the flow logistics after such an agreement.
Unfortunately, it is most likely they (BPT-Mitsui) will get a piece of the NWS tolling "pie" before STX or anyone else does. So there's added latency there before any possible earnings. Unless of course one of the NWS partners or BPT gobbles up STX.

Unfortunately I don't see any revenue from STX PB for at least a couple of years, perhaps 3. If JAWS was successful it perhaps would have churned some revenue whether negative or positive cashflow; it would have been much more easier to get gas to market from the SCBGP due to mature infrastructure in the area and Moomba regardless of gas price and costs per mscfd.

Looking at things realistically, if JAWS is dead, then we will not see any revenue for a long time. Even after initial start lets say in a couple of years, it could take 4-5 years from today before good PE ratio for STX.

All my humble opinion... DYOR.