Suspending work was probably on the cards simply from the...

Suspending work was probably on the cards simply from the ownership change from LNGI.

But with the Shell bid there is no way an FID can made until resolved, and the risk of waste vastly greater.

People speculate about Shell moving because of pending FL committments. Just as important perhaps is the pipeline from the Surat. AOE's planned pipeline is far too small for Shells ambitions. It would also be a terrible waste to make committments on a pipeline too small.

Interesting times ahead, but looks like if AOE survives it will be with a major or controlling shareholder. We should hope for a white knight. WPL (mostly) works with Shell the major and until recently the controlling shareholder. It also worked when Shell and BHP both had major stakes.

Whatever the outcome, Shell or whoever gets at least a major stake is unlikely imho to pursue FL. Small steps suit a $3bn coy, but not a major.

EL