Whilst it is good news that the pipeline construction has been completed, let's not get ahead of ourselves as to when the gas will actually start flowing. Imagine that while they are completing the compressor stations, they are presently static commissioning (including hydrotesting and thereafter drying the pipeline), which for a pipe of this length could be a few months. Then it may take a few weeks to Dynamic Commission once they start introduction of hydrocarbons (hopefully from CTP supply).
My gut feel is that optimistically sales gas may start flowing in September or early October, but that assumes everything goes well. The current contingency thru end of November is worth keeping in their pocket at this stage, but things do look positive.
Attached is a presentation which Jemena gave in Nov-2015, which suggests they are a little behind their original plan but for a project with so many remote complexities they seem to be doing ok...
CTP Price at posting:
14.5¢ Sentiment: Buy Disclosure: Held
