Hopes increase for LNG

LNG Ltd’s hopes of finding a gas supplier have increased only weeks after being shot through the heart by Bow and Arrow.

Fisherman’s Landing proponents Liquefied Natural Gas Limited announced it has executed an agreement with Sydney-based gas company Metgasco to jointly study the feasibility of a gas to liquefied natural gas (LNG) project.

The joint study will include the viability of gas supply, transportation, liquefaction and sale of LNG from Metgasco’s coal seam reserves in the Clarence Moreton Basin, to LNG Ltd’s Fisherman’s Landing project.

Metgasco intends to evaluate the commercial, environmental and technical feasibility of the LNG project.

The announcement comes only two weeks after talks to supply gas with Bow Energy failed and only months after agreed buyer Arrow Energy was taken over by Royal Dutch Shell.

Managing director of LNG Ltd Maurice Brand said LNG Ltd believes Metgasco has several material, technical and commercial benefits.

“Both companies are now well-placed to benefit by working together on this project,” Mr Brand said.

Managing director of Metgasco David Johnson said the company was pleased to be working with LNG Ltd.

“LNG Ltd has a well-advanced project at the Port of Gladstone and strong technical capabilities in LNG project engineering and design,” Mr Johnson said.

“Over the next few months Metgasco and LNG Ltd will assess whether the supply of gas from the Clarence Moreton Basin in NSW to Fisherman’s Landing is a viable proposition.”

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