Business

Gladstone could see more LNG in future: QRC

THE peak organisation for resources will support the Liberal Party's plan to lease the Port of Gladstone, as long as any contracts provide appropriate protection for the area.

Queensland Resources Council chief executive Michael Roche also suggested that Arrow Energy was sitting on a large resource in the Bowen Basin that could see Gladstone's LNG sites expand in the future.

But he also said the coal industry would continue to cut back on jobs to get "back in the black".

Mr Roche told the Gladstone Engineering Alliance Major Industry Conference on Wednesday the council supported the government's Strong Choices campaign that included the long-term lease of Gladstone's port.

"We agree that leasing our (Queensland's) assets long-term is an effective way to take off some of the debt," he said.

"It would provide some new money to reinvest in badly needed structure in the state.

"But contracts between the users and the operators provide appropriate protections - user protections in the lease conditions.

"It's a strength in leasing rather than selling."

Speaking on another topic, Mr Roche said the potential for six more trains (production units) on Curtis Island meant that Gladstone could see more LNG in the future.

He said Arrow Energy was sitting on a large gas resource in the Bowen Basin and had already started front line engineering.

"Arrow is showing one way or another they're going to energise their reserves," he said.

Arrow is still contributing major dollars to social infrastructure and community projects, while its plans have slowly been passing through government approvals over the past few months.

It welcomed news from the Federal Government on October 8 that its proposed central Queensland pipeline, expected to be 550km long, was approved.

The pipeline will take coal seam gas from Moranbah in the Bowen Basin to Gladstone.

On a question from the audience about the future of job cuts in the coal sector, Mr Roche said it was obvious the coal companies couldn't keep producing record tonnage without appropriate support.

"The coal industry is asking from their suppliers to 'sharpen the pencil'," he said.

"Some business decisions are not sustainable but about getting back in the black.

"Some of the cost cutting is permanent and a new way of doing business, but some of it is probably not sustainable."

He said smaller projects in coal companies were trying to get off the ground in the Galilee Basin, but the big coal majors in the Bowen Basin were very much in the production phase.

"We shouldn't expect an increase from them in following years."

RESOURCES:

  • Queensland's resources sector produces $1 in every $4 of the Queensland economy
  • One in five jobs is in resources
  • 0.09% of the state's land mass is taken up by resources

Topics:  asset sales gladstone port lnp queensland resources council strong choices



How to survive a bushfire in your car

IT SOUNDS like a nightmare, but it can happen.

Eight reasons to join the RFS

SPREAD across 93% of Queensland, the Rural Fire Service has about 36,000 volunteers. And you could be one of them.

What if my insurer gives me grief?

CLAIMING your insurance cover after a natural disaster can go one of two ways. It can be a breeze, or like pulling teeth.

Fisherman caught off Gladstone pay for their actions

CAUGHT: Illegal Vietnamese fishing boat caught off Gladstone with 3 tonnes of sea cucumbers.

ILLEGAL fishermen caught kept under guard. More could be coming

Developer's grand new multi-million dollar estate

NEW ESTATE: This is the only plan revealed by the property developer's new Billabongs Estate in Agnes Water.

DEVELOPER given the go ahead for a massive estate with 149 homes.

'Tough times': Truckload of treats for Gladstone kids

BIKEFUL: Matt and Clyde Luck head off on the Ulysses Christmas toy run.

Numbers down but smiles all around for Ulysses toy run

Local Partners

Hacksaw Ridge wins big in first round of AACTA Awards

Luke Bracey and Andrew Garfield in a scene from the movie Hacksaw Ridge.

THE major awards will be handed out on Wednesday night.

Paris Hilton fumes at clumsy partygoers

A reveller spilt their drink on Paris Hilton's DJ decks

Winnie Harlow isn't a role model

Winnie Harlow insists she isn't a role model.

Felicity Jones proud of Rogue One: A Star Wars Story role

Felicity Jones feels it is "important" for a woman to head Rogue One

Kiwi's plea to Ellen DeGeneres to save bakery after quake

Ellen... we need your magic.

Family had to be helicoptered out after powerful quake

Seacrest: Things are "going better" for Kim and Kanye

Ryan Seacrest says things are "going better now" for Kanye West

Couple's desperate $550K price drop to sell Gladstone home

Brian Headley and Kirstene Staib are selling their Kin Kora mansion for $750,000.

TELL tale sign of Gladstone's property market.

Seven Gladstone homes selling right now leave experts shocked

PROPERTY GURUS pick seven properties that show market has hit bottom

Banks reclaim Gladstone homes as job losses bite

LONG FALL: Property experts Heron Todd say, based on key market indicators, Gladstone is still travelling to the bottom of the market, with property prices set to get cheaper.

Property valuers say Gladstone housing market hasn't hit the bottom

The million dollar property to test Mackay's market

This Victoria St building will go to auction Tuesday and investors will be watching closely to see how much it sells for.

'High profile architect designed CBD asset' goes to auction

Prices jump in trio of mining towns

THE boost in coal prices in the past six months has triggered a house price jump in at least three mining towns in Central Queensland.

Boost in coal prices triggers a market turnaround

Ready to SELL your property?

Post Your Ad Here!