BG Group's QCLNG project on Curtis Island, Gladstone.
BG Group's QCLNG project on Curtis Island, Gladstone. BG Group

Third train for Curtis Island's QCLNG now four years away

FURTHER expansion of Gladstone's QCLNG project is now four years away and has fallen behind BG Group's other projects in the US and Tanzania as growth options for the company. 

At a strategy presentation this week, BG chief executive Chris Finlayson pushed back the priority of expansion in Australia.

News Ltd reported Mr Finlayson said ramping up the QCLNG foundation project was one of the firm's biggest risks to hitting 2015 production guidance, and added he might be keen to further cull BG's stake in the project.

The delay of a Queensland LNG expansion comes as gas export proponents find it too expensive or too hard to sign off on new projects in Australia.

Former chairman Sir Frank Chapman had targeted a 2012 approval of a third LNG production unit, or train, at Gladstone, to follow on from the two trains under construction and due to start exporting next year.

When this target was not hit amid rising local construction costs, rains and increased Queensland regulation, which slowed the pace of onshore coal-seam gas exploration, the expansion was named as one of three LNG growth options.

Mr Finlayson told investors the QCLNG expansion was likely to be approved after the other two options. 

Full story here.



THE BEST IN TOWN: The man to call when sparks fly

premium_icon THE BEST IN TOWN: The man to call when sparks fly

Daniel put the win down to honest, reliable service.

Sugar mill fire closes M'boro factory for repairs

premium_icon Sugar mill fire closes M'boro factory for repairs

Two fire crews were called to the factory blaze about 10.54pm Sunday

Senators fire up in tense abortion debate

Senators fire up in tense abortion debate

Politicians exchange fire over proposed QLD law changes

Local Partners