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.

Tenant wants out of "S**t City"

STINKY BUSINESS: Department of Housing tenet Maxine Frescon wants to leave her house while the smell from sewerage. Photo Declan Cooley / The Observer

“It’s just disgusting and it’s coming up through the pipes"

A motel owner's generous offer for food vans

The Boyne Island Motel and Villas owner Helen Grant has invited a food truck owner to open at the motel's outdoor garden cafe area.

Revitalising Boyne Island's eatery options

Ken O'Dowd promises commitments before election

Flynn member Ken O'Dowd with minister for infrastructure and transport Darren Chester. Photo Campbell Gellie / The Observer

Pollies fly into Flynn in numbers

Latest deals and offers

Gladstone hits top in state for vacancies

Gladstone has the highest residential rental vacancy rate in Qld

Sale nears on last large block of land in Coolum

The 43.37ha property on South Coolum Rd has sold.

South Coolum Rd property to be land banked