You are a brave man to cite David Llewellyn-Smith to this...

You are a brave man to cite David Llewellyn-Smith to this audience, Justin.  Last time I did, it produced howls of dissent and stern lectures about supply and demand that urged me to trust the process rather than dissect its elements.  Nevermind.

Let me make two points:

1. While holders understandably want maximum profits and cheer high prices, the reality for CTP is that without NGP it was limited to supplying a handful of local customers - PV was shut in, Mereenie trickled, trapping the oil by-product and Dingo could produce little more than PWC needed for Alice Springs. All are fully built operational gas production units without customers! The price CTP gets for its product is secondary to the customers/no customers dilemma.

2. Reforms to the monopoly pricing power pipeline operators enjoy is not yet complete.  Austalia will have a new government by May 18, four months away.  They will use the levers of government to different ends, including to reduce gas prices for domestic consumers large and small.  Pipeline tariffs are low hanging fruit - their supporters hate monopoly profits and economic rents. 

3.  We don't know if CTP is lobbying government for better opportunities.  RC used the court of public opinion very well.  Current management may be doing it behind closed doors. Your assertion this is not happening has no factual base.  Further, there is no point lobbying the current federal government as they are utterly preoccupied with the imminent election and hardly in a position to introduce reforms of any kind.

Best wishes.

Ash