LNG boom fizzles as costs bite

JUST a few years after it started, Australia's liquefied natural gas bonanza may be drawing to a close, throttled by swelling costs, tightening credit and mounting foreign competition to supply Asian buyers.

New Australian projects have been getting approved at a furious pace, with six kicked off in the past 18 months. About $180 billion worth of LNG export projects are now being built, putting the country on track to quadruple its LNG exports by the end of the decade.

With the recent approval of the $34 billion Ichthys project, Australia should also overtake Qatar as the world's top exporter of LNG by around 2017, but the window of opportunity for the giant projects appears to be closing.

"There's vastly more being offered into the pipeline now - from the United States, Russia, Canada - and so the whole supply perspective has changed and Australia now looks very vulnerable," said Tony Regan, an analyst with Tri-Zen International in Singapore.

Japan's Inpex Corp and France's Total last week approved the 8.4 million tonne-per-annum capacity Ichthys project in the Browse Basin offshore Western Australia.

> > Read more at brisbanetimes.com.au

Topics:  lng industry, qatar



Local Real Estate

Featured Real Estate
D.I.Y. OR INSTALLED HOME... $9500.00 From
Mobile Home Fully self contained granny flat or mod homes.  D.I.Y $9.5k or $12.5K ...
Rock Solid... AUCTION
Residential Land 0 0
City Centre Oasis... $369,900
House 4 2 2
Job Promotion... AUCTION
House 4 1 3

Featured Jobs

Clarence Valley jobs listed daily



Local Partners

LATEST DEALS AND OFFERS

View today's ePaper!

Read the digital edition
Learn More

Your Chance to Win!

Win a Family Beachside Escape...
Learn More

Cars For Sale

Find cars for sale online now.
Learn More

Subscription Sale

Subscribe now for $1 for 14 days.
Learn More

Local Profile

Stay Connected

Get the news as it happens, in your inbox

You can change the newsletters you are subscribed to when you edit your profile

Edit Profile


Special Offers

Latest deals and offers

Horoscopes

Cancer

Love and passion may fall short of your ideal and just now you may not be nurtured in the way you want. Ask for it. You'll come across with...

read more

Marketplace

Special Offers & Promotions

Compare & Save