Jun 30, 2016

Japanese shipment another LNG milestone

Japanese shipment another LNG milestone

Australia Pacific LNG’s first shipment to the Kansai Electric Power Company in Japan has departed Curtis Island in the purpose-built LNG Fukurokuju.

Under a sales deal signed in 2012, Kansai Electric will receive about 1 million tonnes of LNG each year for 20 years.

Australia Pacific LNG chief executive officer Page Maxson said the shipment was a significant milestone in the company’s history and demonstrated the important role it played in delivering a cleaner form of energy to the global market.

“This shipment to Kansai Electric marks the 27th shipment by Australia Pacific LNG since exports began,” she said.

“We have been pleased with our operations from Train 1 and we expect to deliver the first cargo from Train 2 by the end of 2016.”

Member for Gladstone Glenn Butcher said it was welcome news from the state’s $60 billion liquefied natural gas industry.

“While the construction phase of the industry was winding down, LNG production is ramping up in our region,” Mr Butcher said.

“In fact it will drive the value of Queensland exports to almost $100 billion by the end of the decade.”

Queensland Treasurer Curtis Pitt said the rebound in Gross State Product growth highlighted in the 2016-17 Budget was underpinned by a surge in overseas exports.

As LNG production ramped up, it would become the state’s second largest export – worth up to $17 billion – from 2018-19, he said.

“By 2018, Queensland could be the world’s fourth largest LNG exporter and, by the end of the decade, Australia has the potential to be the world’s leading LNG exporter,” Mr Pitt said.

Mr Pitt said growth in the sector would continue, with QGC’s $1.7 billion dollar Charlie CSG project near Wandoan announced late last year.

Australia Pacific LNG was formed in October 2008 and is a joint venture between Origin, ConocoPhillips and Sinopec.

 

 

Recent Stories

Subscribe to IQ Now
Menu