My understanding from a brief review - and I'm happy to be corrected - is that:
(a) Getting the Bowen gas out of the ground is painted as almost mandatory to aid transition here and overseas, address likely ECGM issues, support QLD state revenues as coal declines, and to maintain supply for the LNG industry.
(b) The report recommends proceeding with the pipeline, including consideration of government support given the ESG-influenced investment environment. The pipeline will be economical regardless of market scenario.
(c) On the negative side, they suggest constructing the pipeline in stages - southern followed by northern (BLU is of course in the latter area) - in view of the more mature gas availability in the southern Bowen.
(d) Given the narrow window of opportunity, advice is to get on with the process as soon as possible. Mahalo to ECGM operational by 2028, Moranbah to Mahalo by 2030.
Provided the recommendations are accepted, I doubt if we'll have to wait until anything like 2030 for the SP to reflect the prospects. We're all aware of how much the company will be worth if the assets are able to reach the market.
Have to say I'm fairly buoyed by the report, which I'm interpreting as really quite strongly positive. Will be interested to see industry media comment in due course, probably next week.
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