Australia’s AGL Energy moving forward with LNG import plans

For illustration only (Image courtesy of Woodside)

AGL Energy is progressing with its plans to build a liquefied natural gas (LNG) import terminal in the southeastern part of Australia to help deal with a potential gas supply shortage in the region.

Australia’s second-largest power and gas retailer said on Friday that the feasibility study for the LNG import terminal was progressing, and the company expects to select the terminal site around the middle of this calendar year.

AGL is developing an import facility despite the fact that Australia is on its way to becoming the world’s largest exporter of the chilled fuel. The country has currently seven operating LNG export developments and three more under construction.

However, shipping of large quantities of domestic gas abroad and moratoriums on onshore gas development are creating supply shortages at home and raising prices as well.

AGL is considering a potential investment of up to $300 million to build a floating or onshore LNG import terminal to supply its retail markets in NSW, Victoria and South Australia.

“Initially, there was a lot of skepticism, but we’re seeing positive support building for this,” AGL chief executive Andy Vesey said in a conference call on Thursday discussing the company’s half year results.

AGL expects to make a final investment decision on the LNG import project by June 2018.

The company previously said that the chilled fuel could be sourced from Europe, the Middle East, Africa, Asia and the United States.

 

LNG World News Staff

Share this article

Follow LNG World News

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

The 6th CWC China LNG & Gas International Exhibition & Summit

Following on from LNG 2019 and five successful editions in Beijing, the established China LNG & Gas International Exhibition & Summit…

read more >

LNG Pricing, Trading & Hedging: 3-Day Training Course – Singapore / Jan 2019

This three-day training program provides a unique opportunity to learn and apply the practical skills, knowledge and tools needed to:…

read more >

American LNG Forum 2020

The American LNG Forum is your gateway to learning about the US LNG export industry,

read more >

2nd Global LNG Forum

Global LNG Forum is an exclusive networking and knowledge-sharing platform for top experts and business leaders in the industry.

read more >