Business

LNG company in race to secure gas supply

THE smaller of the LNG companies, Liquefied Natural Gas Limited, is continuing to work on securing adequate gas supply for the first LNG Train to produce 1.5 million tonnes per annum of LNG.

Meanwhile Gladstone Ports Corporation Ltd has granted a three-month extension to the site agreement to lease at the Fisherman's Landing LNG Project.

The Perth-based company is attempting to develop a 3.8 million tonne a year facility at Fisherman's Landing, in comparison to the Curtis Island projects which range from 7.8Mtpa to 9Mtpa.

Whilst the project has been on hold since March 2010, all approvals are in place to begin construction once gas is secured and banking agreements re-established.

The extension to the site agreement takes it from June 30 to September 30.

This follows a company submission on the status of gas supply for the first LNG Train that will produce a guaranteed 1.5 million tonnes a year of LNG and a nameplate capacity of 1.9 mtpa.

LNG Ltd managing director Maurice Brand said he anticipated being able to provide further information on gas supply during the third quarter of 2014.

"We are appreciative that the board of GPC has granted a further extension," he said.

"The company accepts that if we are unable to provide substantial further progress on gas supply during the next quarter, then the board of GPC will reconsider again in late September 2014 any further extensions based on the progress made."

LNG Ltd

  • Capacity: 3.8Mtpa (two trains)
  • Cost: $1.7 billion
  • Re-start of construction due this year

Topics:  business curtis island gladstone gladstone ports corporation lng



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