Business

Petronas pushes ahead with $37b LNG plant in Canada

MALAYSIA has highlighted the risks to the growth of Australia's liquefied natural gas industry by declaring its intention to push ahead with a $37b plan to build an LNG plant in Canada.

State-owned energy company Petronas, one of the founding partners of the Santos-led Gladstone LNG plant, could spend the vast amount over 30 years at a terminal earmarked for development in Prince Rupert, British Columbia.

The Australian reports the comments reflect the shift in global LNG development away from Australia, where high costs are discouraging new investment.

They also illustrate the North American gas threat brought about by cheap shale gas is not limited to the growing approvals of US exports from the Gulf of Mexico.

University of Western Australia and Rice University (Texas) economist Peter Hartley says Canada's west coast is closer to Asia than Australia and looms as a strong potential LNG competitor.

Read more at The Australian.

Topics:  gas, glng, lng, resources




Stay Connected

Update your news preferences and get the latest news delivered to your inbox.

3 easy dinner recipes your kids will love, and so will you

No Caption

THERE is a middle ground! Dinners fit for kids and adults.

How to reduce your child's risk of food allergies

ABOUT 90% of food allergies are caused by just seven foods.

5 good mental health habits for kids (and parents)

CRYING OUT FOR HELP: The demand for counselling support for children and young people is increasing.

FORMING good habits early is critical for your child's mental health.

Smack or no smack - where do you stand?

THE debate is reignited - is smacking acceptable?

Susie O'Neill: Why I stopped smacking my children

Swimming legend Susie O'Neill says she has stopped smacking her kids.

“I (smacked) because that’s what I knew growing up."

Introducing a step-parent into the family

Introducing a step-parent into the family can be stressful for the children, as well as the new parent.

THERE is no easy way to introduce a step parent into the family.

QLD drug case could prompt Attorney-General action

A-G to to look closely at laws around drug offence sentencing

How this scaffolder is thriving in the downturn

High Risk Solutions general manager Dave Nunn started his business three years ago with his brother-in-law and a business partner, now he employs about 19 workers.

He started his business when the construction boom was winding down

Gladstone stalwart backs Ken’s tax cuts for business

Owner of a Gladstone electrical company Ken Corfield with LNP member for Flynn Ken O'Dowd.

Two Kens agree that businesses would benefit from LNP's tax cuts

Latest deals and offers

Mt Larcom Show's 67-year-old chain saw champ

Philip Waters was dragged into chain sawing by his former girlfriend.

Justice Lucy McCallum

Justice Lucy McCallum

Justice Lucy McCallum says she reduced Oliver Curtis's sentence due to comments...

Is this state’s cheapest house?

BARGAIN BUY: Is this North Bundaberg property the cheapest home in Queensland?

Becoming a real estate mogul is all about risk and reward

Cheap, cheap rental in Gladstone

$150/week for 6 Drynan Dr, Calliope

Cheap cheap rental in Gladstone