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Australian LNG the biggest loser if US projects take off

Work on US LNG projects is starting to grow as work in Australia dwindles because of surging costs.
Work on US LNG projects is starting to grow as work in Australia dwindles because of surging costs. SUPPLIED

AUSTRALIA will be the biggest loser among liquefied natural gas exporters if US LNG production takes off in a meaningful way, with more exports displaced than any other nation because of the high costs of building new projects.

The finding, in a Deloitte report commissioned by US LNG proponent Cheniere Energy, comes as global engineering contractor KBR - a leader in West Australian projects - says work on US LNG projects is starting to grow as work in Australia dwindles because of surging costs.

The Australian reports if a substantial amount of US LNG is exported to Asia, it could displace the equivalent of one $20 billion project in Australia..

KBR chief executive William Utt said price hikes in Australia meant opportunities for his company were falling.

The nine million tonnes a year of potentially displaced Australian LNG production would be the same amount as the $US20b Australia Pacific LNG project in Gladstone is aiming to produce.

Read the full story in The Australian


Topics:  aplng, curtis island, gladstone, lng



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