Probably also concerns in the market in regards to STO aussie assets as for STO deal to happen it may mean sell down to aussie company of infrastructure to protect Australia interests ? Not sure if that is a positive for WDS as Aus govt could set cap or volume conditions on that gas in such a transfer .
As usual aussie politics and long term indecision meaning Australia is not a 100% reliable energy supplier it once was and even more so if STO gas and infrastructure becomes 100% foreign owned by a foreign government entity.
If WDS becomes the only Aussie owned gas supplier then they may be the easiest company for a aussie government to simply force new conditions on gas retention, volume supplies, price cap to industry and leverage it by limiting export volume unless WDS comply - yep limits WDS local profits and hence reluctance for WDS to invest locally ?
WDS Price at posting:
$24.01 Sentiment: None Disclosure: Not Held
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