Ann: Shareholder Presentation, page-67

The key is to realise that you don't have to be a partner (shareholder) in the MLP directly to benefit, although you can see that there are indeed public direct % ownership at the MLP level in the case of cheniere. In many of the same ways that an individual being a partner (shareholder) in the MLP benefits, so too does a company that is a partner (shareholder) in the MLP benefit: many of the taxes that would apply to your company if you were directly involved in the business of the MLP are avoided as you are merely deriving income from an MLP and doing very little else as a company. This is where the higher level company(ies) in the structure come in, where you can see the majority of public holding comes into play. How this plays out if you have the structure span the ASX and US markets, who knows (maybe it's easier to assume the top level is a full US listing), but one would hope the company will structure things so that it still makes most sense for those who are AUS holders).