Location: Port of Gladstone, Queensland
Gladstone buyer to be revealed
Australia's LNG Limited said today it would reveal before the end of March the name of the LNG buyer for the US$500 million Gladstone Fisherman’s Landing LNG project in Queensland.
The company has already selected its preferred LNG buyer and proposed 40% equity partner, but said it needs to finalise a Heads of Agreement of key terms with the buyer, rumoured to be either Golar LNG, BP, Osaka Gas, or Mitsui.
Once completed, the project owners will be LNG Ltd (40), Arrow Energy (20) and the LNG buyer (40%).
The project aims to use Arrow's coalbed methane gas as feedstock for the supply of 1.5 million tonnes per annum of LNG from 2011 or 2012.
SK Engineering & Construction and Laing O’Rourke are the preferred engineering, procurement and construction contractors.