Was fascinating to watch and Stuart handled himself very well, though he was a bit elusive with some of the curly questions. Of the 5 committee members, 4 were ALP and 1 was Nationals. The chair was well-balanced. The three ladies didn't utter a word...and the other guy (David Scaife) I felt was a little antagonistic - might be a Beach plant!
His one point though was quite interesting - if you move to open up exports and have a 15% Domestic Reservation Policy - and if you want to maintain current domestic gas output - you need to increase your gas output by 7x to maintain parity! Stuart dance around it a bit, but summed it up nicely at the end by saying Beach/Mitsui have a 260TJ/day plant and we are building a 40TJ/day plant. If exports were opened up, and capital was more readily available, we could also do a 260TJ/day plant (i.e. ~7x), and that our reserves in Perth Basin would be large enough to sustain.
So open access to international, multiply overall output, production and capital costs come down, and price of dom.gas comes down - current trajectory is only up
Was fascinating to watch and Stuart handled himself very well,...
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