That's sounds right. ACCC netback prices indicate that spot prices will be around $11-12/gj. Origin has already indicated any gas flowing south will be tied to Japan-Korea marker so this move ties Australian domestic and international prices.
The question is will COE be able to negotiate better prices for GSA, particularly for OP3D and what portion of OP3D will be contract/spot prices.
I suspect whatever happens COE lng profit margins are growing in value month-by-month as coal gets phased out around the world. I think spot gas prices during a period when the wind doesn't blow and the sun doesn't shine is very, very, very lucrative.
AEMO reading, page-361
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