Gladstone Ports Corp. concludes PSAs with LNG exporters

Gladstone Ports Corp. has announced that it has concluded Port Services Agreements (PSAs) with LNG exporters in Queensland, Australia. This is expected to result in a ramp up of LNG shipments from Curtis Island. 

Treasurer Curtis Pitt confirmed that PSAs had been negotiated with Queensland Curtis LNG, Australian Pacific LNG and Gladstone LNG.

Mr Pitt hailed the agreements as an “important milestone” for Queensland’s LNG export industry.  He said: “Queensland’s LNG industry is ramping up, having already exported AUS$1.14 billion worth of gas from January to July […] Exports are projected to hit AUS$15 billion by 2016 - 17, earning the state valuable export dollars and annual royalties while supporting thousands of jobs […] Labor’s facilitation of the AUS$60 billion LNG industry in Queensland is now paying dividends for the State, with increasing shipments of LNG set to contribute to Queensland’s projected export growth.”

Mr Pitt added that the PSAs provide a contractual framework for allocating port capacity and charging for access to the Port of Gladstone’s main shipping channels and other supporting infrastructure.

He added: “Given the projected growth in exports and in port and vessel traffic, we need strong port service agreements in place to manage the Port of Gladstone, while protecting the local environment […] From 2016, when all three LNG projects are in export phase, there will be enough LNG production to load 10 vessels per month combined […] We’re planning ahead to manage this growth because the LNG export industry is crucial to the future of the Queensland economy.”

Edited from press release by Callum O'Reilly

Read the article online at: https://www.lngindustry.com/liquefaction/18092015/gladstone-ports-corp-concludes-psas-with-lng-exporters-1316/