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FMG chief executive Nev Power. Photo: Attila Csaszar

FMG chief calls for gas reservation reform

Fortescue Metals Group has called for the phasing out of the state government’s contentious domestic gas reservation policy, which has traditionally been backed by big gas buyers, in favour of stricter application of the ‘use it or lose it’ rules.

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Perth
FMG haven't even been in the market for gas for long and are already complaining. I suggest they get a better understanding before crying to the government that they want cheap gas. The WA gas market is currently well supplied and any additional gas whilst it would reduce prices, would be difficult to sell and unviable for the producer. FMG would not be a large user of gas for many many years to come. Someone the size of FMG should direct a few more resources to understand the market themselves first.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

BN30 Index

Index = 100 as of 4 Jan 2016
Source: Morningstar

Total Shareholder Return as at 29/03/19

1 year TSR5 year TSR
53rdFortescue Metals Group78%12%
144thWoodside Petroleum25%3%
165thSouth3221%
300thMineral Resources-4%11%
323rdOM Holdings-8%32%
729 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

22/03/19
$11k Issued
18/12/18
$0 Issued
30/11/18
$117.6m Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

1st↑South32$10,519.6m
2nd↓Fortescue Metals Group$9,358.7m
3rd-Woodside Petroleum$7,536.1m
4th-Mineral Resources$1,706.7m
5th↑OM Holdings$1,512.8m
485 listed resources companies ranked by revenue.
Source: Morningstar

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