Project is still looking for gas

LNG Ltd’s Fisherman’s Landing LNG Project is still looking to secure gas supplies.

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THE Gladstone “Fisherman’s Landing” LNG Project is still looking for gas.

The Fisherman’s Landing LNG facility was more advanced than all the other LNG projects before gas supplier Arrow Energy was snapped up by Royal Dutch Shell in May.

In a statement released yesterday, LNG Ltd said the company continues to advance meaningful discussions with potential gas suppliers for its wholly owned Fisherman’s Landing LNG Project.

“It is pleasing to note that momentum has returned in these discussions following the conclusion on the Federal Government elections, clarification of the taxation position for coal seam gas (CSG) to liquefied natural gas (LNG) projects and recent Federal Government conditional environmental approval for two of the proposed larger Curtis Island LNG projects, in the Port of Gladstone,” the statement said.

“The company has signed Confidentiality Agreements and is currently in discussions with six potential strategic partners as LNG buyers and project investors.

“On completion of gas supply and selection of strategic partners, the project is positioned to move to final investment decision and construction. While the Fisherman’s Landing LNG Project has obtained all environmental approvals for its downstream requirements, the gas suppliers with whom discussions are being held, must obtain all their upstream approvals and licences.”

The project is being managed in parallel with the Western Basin Dredging and Disposal (WBDD) project, as well as the Wiggins Island Coal Terminal construction and the LNG projects on Curtis Island.

A cumulative impact assessment and determination of a final overall offsets package takes into account the relative timing and inter-dependencies of all the LNG projects.

In the statement, LNG Ltd said they see some practical rationalisation of jointly owned permits in the coal seam gas sector and it is considered highly likely that this will flow into the LNG sector in Queensland.

“The company views this rationalisation as beneficial for its Fisherman’s Landing LNG Project, in that it is likely that additional CSG will become available for any LNG expansion capacity.

LNG Ltd said yesterday the company remained confident in the value and deliverability of its project, given the continually increasing gas reserves in both Queensland and New South Wales which are not committed to one of the proposed large Curtis Island LNG projects.

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