Australia's LNG import projects encounter buyer apathy
Despite Australia’s first import terminal nearing completion, the prospect of additional regasification projects is far from certain
Australia’s Squadron Energy said on 24 March that its Port Kembla project in New South Wales, which can supply more than 100PJ/yr of gas to the local market, was more than 90% complete. It has been two-and-a-half years since construction began on the project. However, growing complexity within the east coast gas market leaves uncertainty about how and where such developments fit within the energy mix. Indeed, despite Port Kembla’s imminent completion, the project still has not secured any buyers. This lack of demand is perhaps why the project’s FSRU is now en route to Egypt to start an 18-month contract at the port of Ain Sokhna. Delays set in Consultancy Wood Mackenzie revealed on 22 April
Also in this section
7 November 2024
The move could have major ramifications for the LNG sector
6 November 2024
The crumbling of the country’s postwar political consensus may bolster the country’s LNG demand outlook by stymieing planned nuclear restarts
5 November 2024
Mongolia hopes to launch its first refinery within two years as it seeks to free itself from Russian dependence, while a similar plant in Tajikistan remains inactive six years after its completion
4 November 2024
The country’s offshore basin remains highly competitive and attractive to IOCs, despite the presence of some geological challenges