when the Haber concept was first announced, onshore WA nat gas prices were $3 GJ, and LNG prices were $10+. Haber gave STX a way to receive a much higher price than $3 GJ for it's gas by way of being a feedstock for Haber-made fertilizer. I think I remember an equivalent of $15 GJ being quoted somewhere. Once onshore WA gas prices took off and became closer to LNG export prices, it was quicker, easier and cheaper (ie cost of capital) to sell the gas into the WA domestic market.
Sorry Bigdaddy, the story is as simple as that!
STX Price at posting:
22.3¢ Sentiment: Buy Disclosure: Held
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