Agree with Auto there will be more than one bid. And, I would...

Agree with Auto there will be more than one bid. And, I would add, more than one bidder and possibly more than two.

The ill conceived and hastily executed CSG LNG plants are stretched for feedstock to fill already committed LNG SPA and already committed LNG plants. The CSG LNG players have big problems and BPT is potentially a solution.

Further, BPTs pre-eminent position in Oz shale makes it a good buy for those with a longer term view, whether or not they are a CSG LNG player (BHP?, Japan?, China?).

And, of course, the conventional business provides for an acquisition to be EPS positive.

In my view, BPT sale could be influenced by something akin to the irrational exuberance / FOMO which surrounded CSG for LNG where fantastic sums were paid for little in the way of reserves and lots for potential.

Just need the first bid!