An LNG tanker
Australia's LNG projects regain momentum
The country’s liquefaction sector is trying to rebound from a challenging 12 months where billions of dollars’ worth of feedstock projects went on the back burner
Australian producers Woodside and Santos both opted to defer FIDs on gas projects last year, as they sought to ride out the global economic downturn caused by the coronavirus pandemic. While Woodside put a pin in the A$16bn ($12.6bn) Scarborough scheme, Santos pushed back the $4.7bn Barossa project. However, the developers now have renewed confidence in their projects following a months-long rally in spot LNG prices that culminated in an all-time high being set in January. As such, decisions around the Scarborough and Barossa projects are both expected later this year. “Trading entities and gas buyers are becoming aware of the long-term risks of inadequate supply” Zeng, Rystad Energy
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