LNG Ltd gets Qld extension

LNG Ltd: Fisherman's Landing problems

Australia-listed Liquefied Natural Gas Limited has been granted a three-month extension for the site for its Fisherman’s Landing LNG project in Queensland.

The Gladstone Ports Corporation has granted the extension for the project on mainland Gladstone, just across the bay from three major LNG developments on Curtis Island.

LNG Ltd will now have control of the site until 30 September.

This follows a submission by the company that has guaranteed it will produce 1.5 million tonnes per annum of LNG, with a nameplate capacity of 1.9 mtpa.

LNG Ltd chief executive Maurice Brand said he expects to be able to provide more information on gas supply during the third quarter.

The project has been on hold since March 2010, despite the fact all approvals are in place to restart construction once gas has been secured.

“The company accepts that if we are unable to provide substantial further progress gas supply during the next quarter, then the board of GPC will reconsider again in late September,” he said.

The company had earlier signed a gas supply agreement with PetroChina for the supply of 3 million tonnes per annum of LNG through the project, but this agreement was disrupted by a botched takeover deal between PetroChina and Australia’s WestSide.

PetroChina then acquired Molopo Energy’s Queensland gas assets however, this supply falls short of the minimum gas needs for Fisherman’s Landing.

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