Australia's first LNG import terminal seen ready by late-2023 (updated)

Waypoint REIT

22/03/2022 02:33

* Port Kembla site makes progress, but needs gas supply
    * Viva Energy LNG import project awaits state approval
    * South Australia import project seeks customers 

 (Adds background on rival projects)
    By Sonali Paul
    MELBOURNE, March 22 (Reuters) - Squadron Energy, the private
company building Australia's first LNG import terminal, expects
its Port Kembla facility in New South Wales to be ready to take
its first gas shipment by the end of 2023, its commercial
director said on Tuesday.
    Squadron Energy, owned by Australian mining billionaire
Andrew Forrest, is vying against four other proposed LNG import
projects looking to fill a shortfall in gas supplies expected in
southeastern Australia from as early as 2024, and across eastern
Australia from 2027.
    Earthworks at the Port Kembla site about 90 kilometres (56
miles) south of Sydney have been completed, work on a new wharf
has begun and the facility "will be ready for first gas in
quarter four next year," Evonne Bennett told a gas conference in
Sydney.
    Squadron has lined up the Hoegh Galleon floating storage and
regasification unit (FSRU) for its terminal, but has not lined
up gas supply yet.
    In contrast, rival Viva Energy  VEA.AX  has lined up a
tentative deal for Woodside Petroleum  WPL.AX  to supply gas to
a proposed import terminal in Geelong, near Melbourne.
 urn:newsml:reuters.com:*:nL4N2SU01A
    Viva is awaiting state approval for its project and aims to
make a final investment decision by the middle of this year,
targeting first gas imports by early 2024. 
    A third project making progess is run by private group
Venice Energy, looking to build an import terminal in the outer
harbour of Adelaide, which received approval from the South
Australian state government in December. 
    Venice Energy is working on lining up gas customers ahead of
a final investment decision and hopes to start construction in
the second half of this year with first gas shipment ready to go
into South Australia's network by 2024.
          

 (Reporting by Sonali Paul; Editing by Muralikumar Anantharaman
and Sherry Jacob-Phillips)
 ((Sonali.Paul@thomsonreuters.com; +61 407 119 523;))