I can "see" ORG & BG forming a JV beyond what they already have...

I can "see" ORG & BG forming a JV beyond what they already have done. Whether BG now realising the value in ORG will try a ORG takeover again - ? They are close and when you consider the capex funding coming up bigger is better.

I cant see ORG or BG going for ESG as STO has it tethered to a tree with its 19.42% interest. STO see it as a backstop for their LNG -a just-in-case reserve , but also for their domgas in NSW.

If ORG went for ESG it would be for the same reasons STO holds it. Wouldnt make much of a blip on ORGs sp . Be good for the ESG sp though - wonder if STO would put up a fight or just cash-out ?

I see your point about ORG having some conflict of interest with its LNG and domgas businesses. It would be logical to spin one off but at the moment they see it as the base business supporting the new LNG line. Could happen but you would have to be a ORG holder to benefit from a potential change. GK has shown that he is favoured by serendipity.

I do see STO as a target but the likelihood of the ACCC intervention is high. Could spin out the domestic business I suppose.

(the more takeover talk there is the less likely it is to happen ? - Ive found this true most of the time)

WA has very litle coal, a lot of northern gas. Competition for gas is LNG, powergen and industry hence the 15% domgas reservation to stop it all going out. That moderated gas prices but it is stll almost 2x east coast. East Coast has coal underpinning the relatively low power prices and I think more than enough gas to keep prices reasonable. ORG and AGK have never thought they could beat Coal baseload powergen on cost. You couldnt rule out govts on the east coast knee jerking to a reservation as well , but what about Shale gas - the great hope for BPT and STO - increasing supply.

Domestic power prices in WA will hit 20c/kwh soon !!