Acca, Thanks for the summary of things for those less familiar...

Acca,
Thanks for the summary of things for those less familiar with where we stand.
A few comments.
1) It's a bit apples to oranges to compare CQP to LNG.asx. Firstly CQP pays zero tax. Secondly CQP does and will provide a guaranteed a significant and guaranteed dividend stream. I understand that you are choosing this entity within the Cheniere hierarchy because it simplifies things, but that simplification overlooks significant differences between this hierarchical entity and a the top level companies. The Cheniere investor presentations present the ownership numbers for each entity and level within the hierarchy. It's not really that complex to arrive at a Cheniere ownership percentage of the projects and their income steams, the far more apples to apples comparison.
2) The BNP Paribas entity you refer to as having bought the stock is a Nominee account entity. This entity has simply been buying stock and holding it as the nominee on behalf of clients who don't have Australian entities in which to directly hold stock themselves. This is how Baupost, Valinor, and the other US holders hold shares. At best BNP have advised clients on their purchases, but it's certainly not BNP themselves buying to hold.