rrt - the age, page-5

It is not hype - if Rudd wins the next election it will be a reality - it is a tax that will have to be paid.

The RRT will be an increased impost on CSG that did not exist before and it will reduce the NPV of projects.

Deutsche Bank say the impact on the Santos LNG project is around a 9% reduction in NPV. On a $9bn project that is quite a big hit.

It is a big win for Woodside and the NWS partners because it removes one of the cost advantages of CSG to LNG projects.

Like all tax changes, the devil will be in the detail.