Australia's CBM-Based LNG Projects Take Hardest Hit

摘要

Chevron is currently starting up the Wheatstone LNG project, which will bring Australia another step closer to overtaking Qatar as the world's largest LNG exporter. However, the story of the country's LNG export industry is hardly one of triumph. Projects have been dogged by delays, big budget overruns and the collapse of global oil and LNG prices, all of which have severely undermined profitability. A trio of projects in eastern Australia that use coalbed-methane (CBM) feedstock have been particularly hard-hit, with two of them recently announcing a new round of impairment charges.