Total, a partner in $US18.5 billion Gladstone LNG project, said it is looking for more gas for the project, but the prices are too high.
Total’s head of upstream oil and gas, Yves-Louis Darricarrere told The Australian that there was a challenge with the gas resources at Gladstone LNG. “We need and we are ready to buy (more gas) but there is a price limit and it is not really economical (at the moment),” he said.
After acquiring some third party gas, the company is looking to develop or get more acreage prospective for gas in Queensland.
Total has 27.5% interest in the Gladstone LNG project that will have the capacity of 7.2 million metric tons per year.
LNG World News Staff, July 21, 2014; Image: Bechtel