This from the Petronas Annual report dated 31/12/12, with...

This from the Petronas Annual report dated 31/12/12, with particular reference to the second paragraph:

feRtiLiseRs & methanoL
Our Fertilisers and Methanol (F&M) business segment
recorded better performance for the year under review
despite having heavier plant maintenance activities
across its plants.
This was on the back of improving gas supply situation
for our methanol facility. We continue to work closely
with our upstream suppliers to resolve any remaining
issues or limitations.

www.petronaschemicals.com/media/file/PCG_AR 2012FINAL.pdf

from above, petronas is having troubles getting enough methane to its current methanol production facility. Consequently, Petronas has global methanol customers in place but cannot even meet their current demand.

imho, petronas has bitten the evans shoal bullet and just lining up the ducks to buy out shell (and Osaka), take the major equity stake/operator-ship in TS, form JV with ENI (and Osaka if they remain) re ES supply to TS.

Evans Shoal to potentially spud any day now... exciting times ahead.

Sort of makes Blackwood look like just some nice cream - but pretty nice cream to have with, imho, Blackwood dril's environmental submission to be lodged in the very near future.

ADL