sto fid by 30-jun & what it means for esg, page-9

Not suggesting that STO don't have the gas necessarily ( although stranger things have happened ! ).

Simply because we are not privy to their plans and internal information , I think it's too hard to make a call. e.g are they going to build both trains together or consecutively ?, are the first few years going to come from Fairview and Arcadia only ? , what role is the storage going to play ?( see slide 11 ) etc , etc.

Of course one could speculate that they would have a go at ESG , after all they have a serious bit of capital tied up there.

The good thing about the STO fid ( and all the others ) is that whether they move on ESG directly or not , it will give us clear direction on the future of east coast csg. An analogy might be a game of musical chairs. The music is currently playing but somewhere between now and the end of the year ( 9 short months ), the music is going to stop. That's probably a timeline I can live with.