Amazing how much value the Aust govt has knocked off aussie gas suppliers due to capping and indecision . Seeing the deals Japan is doing elsewhere being long term and they have basically locked out Australia as being a unreliable energy provider. That crazy situation has been mismanaged by STO and WDS along with their representation with representative bodies and Australia's interests have been mismanaged by Aussie politicians who were in effect claiming sovereign right of resources regardless of long term contracts as a leverage point. What a debacle along with the ongoing court cases . Those factors have lead to analysts now depreciating capital assets at a increased rate and requiring a higher return to cover increased cost per unit of infrastructure due to it's perceived shorter time in use.
As for the FIRB I just don't know . Aussie gas is now 2 tier regulation with the minor players no aught in gas caps etc and to pull the big one with Bowen saying we will be 80% solar and wind or green hydrogen battery etc etc by 2030 or 35 etc then there will be such a small demand for onshore industrial gas what would it matter - said with tongue firmly in cheek.
Politicians really have stuffed up either company getting full valuation
Stupidity would be if WDS took over STO they would probably sell down some of the easy to sell stuff like STO Alaska they has the most potential and is well undervalued in the market. Like the stupidity of STO getting rid of many OSH technical staff to make the short term numbers look good only to be desperate a short time later paying for consulting and rehire to get projects moving.
I think both STO and WDS don't need the distractions and complication of a take over
WDS Price at posting:
$32.19 Sentiment: None Disclosure: Not Held
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