Exactly
@SthboundWhile talk of takeovers and asset sales are
speculation, so too is the suggestion that Gina will delay FID for the WE project for nefarious purposes.
Remember Strike, as operators, have the environmental and other approvals. Also, the original brief for AGIG for the gas plant includes contingencies to increase the size of the plant to 250 TJ/d.
Gina could well decide that Strike has the proven track record of rolling-out a gas plant project. The alternative is that she drags her feet (pushing back her own plans possibly years) then, when she finally gets hold of WE (and not necessarily cheaply), she can put Hancock Energy or Dennis Donald (god forbid) in charge of the project. This doesn't sound very attractive to me.
If she decides keeping the Strike team around (who have the proven track record, government connection, and intimate knowledge of all aspects of the proejcts) is the better option, she may decide it is best to negotiate some agreement whereby WE goes ahead at a much bigger scale (i.e.250 TJ/d), whereby the gas from her WE and NE assets are jointly processed alongside STX's share of WE (e.g. maybe STX end up with a 20% of a larger plant's processing capacity).
Who knows what will happen. I personally think an asset sale at WE is the most likely outcome. But there are scenarios whereby Gina negoatiates with STX to process her WE and NE gas through the proposed WE plant. So, I think it is wrong to assume Gina's purchase of MIN's assets will lead to footdragging on her behalf. She wants gas, and she wants it NOW, not in 5 years. I don't think she really cares how she gets it.
(20min delay)