Business

Mixed reactions to approval of Arrow’s Curtis Is LNG plant

GLADSTONE'S leaders have welcomed the approval for Arrow's LNG plant on Curtis Island, but a sector expert has warned the government tick doesn't guarantee construction.

Arrow Energy gas plant gets the green light from government

Canaccord Genuity oil and gas analyst Johan Hedstrom said question marks remained over the Shell and PetroChina-owned project.

"The commercial realities need to fall into place and I'm not sure that's working in their favour," he said.

"There's the construction costs which aren't fantastic, the high Australian dollar and a bit of uncertainty on the pricing side."

Last week, gas company Santos revealed it didn't have enough wells to run the GLNG plant at capacity, prompting speculation Arrow could process its gas through that plant.

The $17 billion four-train project, which would deliver more than 4000 construction and operation jobs to the Gladstone region, is slated for final investment decision by the end of this year.

Flynn MP Ken O’Dowd with Federal Environment Minister Greg Hunt.
Flynn MP Ken O’Dowd with Federal Environment Minister Greg Hunt.

Flynn MP Ken O'Dowd welcomed the federal approval on Wednesday, and described the "highest environmental standards" applied to the project.

He said Arrow would contribute $89 million to support the health of the Great Barrier Reef through programs such as the Reef Trust.

The project will require further harbour dredging - more than a million cubic metres.

Meanwhile opponents of the controversial project have vowed to pressure investors to back off.

Greenpeace Queensland campaigner Louise Matthiesson said in Gladstone on Wednesday that environmentalists were taking hope in the lack of final investment decision.

Approval of fourth LNG plant 'insult to injury': Greenpeace

"We're appealing to investment corporations to stay away from these projects because of the damage that they do to the Great Barrier Reef and to the climate," she said.

But Ms Matthiesson said many conditions were just "window dressing".

"(Arrow) will be closer than (the other three plants) to high value dugong and turtle habitat and seagrass beds. The light pollution, noise pollution from construction... shouldn't be allowed next to an endangered species habitat."

But Gladstone Area Promotion and Development Ltd said the approval was "exciting" for the region.

Greenpeeace campaigner Louise Matthiesson speaking in opposition to the Federal Government's approval of the Arrow LNG project at the Gladstone marina.
Greenpeeace campaigner Louise Matthiesson speaking in opposition to the Federal Government's approval of the Arrow LNG project at the Gladstone marina. Luka Kauzlaric

Topics:  arrow energy, curtis island, environment, gladstone, greenpeace, greg hunt, ken o dowd, lng




The Tannum beauty competing for this year's Miss Australia

Amanda Vallance is a finalist in this year's Miss Australia.

A former Tannum woman is in the running to be Miss Australia.

URGENT: Why you must update your iPhone iOS settings now

Apple is urging iPhone and iPad users to do an urgent update of their software for security reasons.

Hackers have found a way to break into every iPhone in the world.

Here's 7 really cool jobs up for grabs in Gladstone

Reef off Heron Island - Courtesy of GAPDL

Ever wanted to live and work on an island?

Latest deals and offers

Kanye West gets 'free reign' at VMAs

Kanye West has been let off the leash for the VMAs

Robbie Williams sings at manager's funeral

Robbie Williams and Lamar sang at the funeral of their manager

Twice as much Troy will please country music lovers

CATCH HIM WHILE YOU CAN: Singer Troy Cassar-Daley plans to take some time off to spend with family next year.

TROY Cassar-Daley is releasing a new album and book.

Courtney Stodden gets Reborn Doll

Courtney Stodden is trying to get over her recent miscarriage

Kate McKinnon 'destitute' before SNL

Kate McKinnon says she can't do anything but act

FBI investigating Leslie Jones website hack

The FBI are investigating Leslie Jones' personal website hack

REVEALED: Pat Rafter's $18m Coast house on the market

Check out the photos of the Coast's most expensive property for sale

The "correction we had to have" in Gladstone's rentals

UPWARD MARCH: The rental vacancy rate in Gladstone has improved for the first time in more than a year, providing a confidence boost in the market.

Vacancy rates improve with signs that things are getting betterF

ISLAND FOR SALE: Cheap Fraser Coast island drops price again

Suna Island in the Great Sandy Strait will be auctioned by Ray White Hervey Bay on Saturday morning.

This is the cheapest island you will find for sale in Australia

How a family home can fit on a 250sq m block

This is what you can build on 250m2.

Here's the floor plan of a home built on 250sq m

$100m plan for Curtis Island 'world class' luxury resort

$100 million resort: Top views at Turtle Street at Curtis Island.

"At the moment we think it meets all the town planning approvals.”

Gladstone landlords in trouble with Bechtel job losses

"If a big project was announced tomorrow I wouldn't want to see it"