Crib Point LNG Terminal
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Crib Point LNG Terminal is a proposed LNG import terminal off the coast of Victoria, Australia.
Contents
Location
The terminal is planned for Crib Point at Western Port in southern Victoria, 80km south of Melbourne.
Project Details
- Parent: AGL
- Location: Crib Point, Victoria, Australia
- Coordinates: -38.366667, 145.333333 (approximate)
- Capacity:
- Status: Proposed
- Type: Import
- Start Year: 2022
Note: mtpa = million tonnes per year; bcfd = billion cubic feet per day
Background
AGL has proposed a US$250 million LNG import terminal in Australia, nominating Crib Point as its preferred location. The gas import jetty purports to increase gas supply for south-eastern Australia. It plans for construction in 2019 and operation by 2021.[1] This would involve the redevelopment of an existing jetty to import 100 petajoules a year of LNG, enough to supply all the residential demand for the state of Victoria.[2]
In October 2018 the government of Victoria asked AGL for a full Environmental Effects Statement (EES) for the project, delaying the projected completion date by at least a year.[3] In June 2019 AGL stated that it expected to have the EES process completed by FY20, after which a final investment decision would be made.
Import/Export Controversy
As of 2017, Australia is the second largest LNG exporter after Qatar. The country exports almost 44 million tons a year.[4]
AGL is planning the import facility despite Australia being one of the world’s largest LNG exporters; the country exports so much gas that domestic supply has tightened. According to IEEFA, AGL’s investment in an import terminal is a bet by the company that Australian domestic gas prices will stay high enough in the future to cover the cost of liquefying foreign gas and shipping it to Australia.[1]
East Coast gas producers could be competing with imported gas if Crib Point is constructed. Santos and Cooper Energy are insistent that enough gas could supply Australia from Australian sources.[2]
Woodside CEO said in August 2017 it would not be financially prudent to ship LNG directly from either Western Australia or from Darwin to Crib Point in Victoria because tankers would need an all-Australian crews. This would cost more than bringing in gas from outside Australia.[2]
Articles and resources
References
- ↑ 1.0 1.1 "'It's absurd': new gas import terminal for one of world's biggest gas exporters," Guardian, Aug 10, 2017
- ↑ 2.0 2.1 2.2 Angela Macdonald-Smith and James Thomson"Woodside would be 'competitive' supplier to AGL LNG import terminal: Coleman," October, 11, 2017
- ↑ Victoria slows AGL Energy’s LNG plans, Oil & Gas Journal, Oct. 12, 2018
- ↑ Qatar Moves to Ensure LNG Dominance, Arab Gulf States Institute in Washington, April 17, 2017.
