Canberra rewrites the script for new projects

摘要

Australia is on the verge of a mini-boom in new LNG investment as it nears completion of the fnal phase of a 10-year expansion, but operators insist that this time they are focused on competitiveness and cost control. The start of shipments from Shell’s 3.6mn t/yr Prelude foating LNG (FLNG) project on 11 June marks the completion of a $200bn spree that resulted in seven LNG projects being sanctioned in 2009-12. These have added just over 62mn t/yr of nameplate capacity and given Australia the world’s largest production capac- ity at 86.6mn t/yr. But most were subject to delays and cost overruns — none bigger than at Chevron’s 15.6mn t/yr Gorgon LNG terminal, the bill for which rose to $54bn from an original $37bn — exacerbated by a wider Australian commodity boom that pushed up the cost of labour and materials.