AGL 7.25 Increased By ▲ 0.63 (9.52%)
ANL 10.41 No Change ▼ 0.00 (0%)
AVN 76.93 Increased By ▲ 0.03 (0.04%)
BOP 5.47 Increased By ▲ 0.03 (0.55%)
CNERGY 5.33 Increased By ▲ 0.08 (1.52%)
EFERT 88.52 Decreased By ▼ -0.30 (-0.34%)
EPCL 75.80 Decreased By ▼ -0.20 (-0.26%)
FCCL 13.70 Decreased By ▼ -0.05 (-0.36%)
FFL 6.65 Increased By ▲ 0.05 (0.76%)
FLYNG 7.16 Increased By ▲ 0.04 (0.56%)
GGGL 10.90 Decreased By ▼ -0.06 (-0.55%)
GGL 16.51 Increased By ▲ 0.03 (0.18%)
GTECH 8.75 Increased By ▲ 0.12 (1.39%)
HUMNL 6.91 Increased By ▲ 0.09 (1.32%)
KEL 2.87 Increased By ▲ 0.01 (0.35%)
LOTCHEM 25.15 Increased By ▲ 0.12 (0.48%)
MLCF 25.90 Increased By ▲ 0.21 (0.82%)
OGDC 77.15 Increased By ▲ 0.11 (0.14%)
PAEL 15.65 Increased By ▲ 0.03 (0.19%)
PIBTL 6.03 Increased By ▲ 0.08 (1.34%)
PRL 17.26 Increased By ▲ 0.05 (0.29%)
SILK 1.21 Decreased By ▼ -0.02 (-1.63%)
TELE 10.70 Decreased By ▼ -0.03 (-0.28%)
TPL 9.12 Increased By ▲ 0.09 (1%)
TPLP 19.72 Increased By ▲ 0.02 (0.1%)
TREET 28.87 Increased By ▲ 0.27 (0.94%)
TRG 77.25 Increased By ▲ 1.00 (1.31%)
UNITY 19.97 Increased By ▲ 0.09 (0.45%)
WAVES 12.73 Decreased By ▼ -0.07 (-0.55%)
WTL 1.37 No Change ▼ 0.00 (0%)
BR100 4,080 Increased By 23.3 (0.57%)
BR30 14,922 Increased By 14.8 (0.1%)
KSE100 41,229 Increased By 126.6 (0.31%)
KSE30 15,692 Increased By 57 (0.36%)

MELBOURNE: Squadron Energy, the private company building Australia’s first LNG import terminal, expects its Port Kembla facility in New South Wales to be ready to take its first gas shipment by the end of 2023, its commercial director said on Tuesday.

Squadron Energy, owned by Australian mining billionaire Andrew Forrest, is vying against four other proposed LNG import projects looking to fill a shortfall in gas supplies expected in southeastern Australia from as early as 2024, and across eastern Australia from 2027.

Earthworks at the Port Kembla site about 90 kilometres (56 miles) south of Sydney have been completed, work on a new wharf has begun and the facility “will be ready for first gas in quarter four next year,” Evonne Bennett told a gas conference in Sydney.

LNG market supply-demand balance to remain tight in 2022, says Shell

Squadron has lined up the Hoegh Galleon floating storage and regasification unit (FSRU) for its terminal, but has not lined up gas supply yet.

In contrast, rival Viva Energy has lined up a tentative deal for Woodside Petroleum to supply gas to a proposed import terminal in Geelong, near Melbourne.

Viva is awaiting state approval for its project and aims to make a final investment decision by the middle of this year, targeting first gas imports by early 2024.

A third project making progess is run by private group Venice Energy, looking to build an import terminal in the outer harbour of Adelaide, which received approval from the South Australian state government in December.

Venice Energy is working on lining up gas customers ahead of a final investment decision and hopes to start construction in the second half of this year with first gas shipment ready to go into South Australia’s network by 2024.

Comments

Comments are closed.