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Port Kembla LNG terminal project prepares for execution phase

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LNG Industry,

Since its launch in March 2018 the Port Kembla Gas project has made significant progress and is in the last stage of preparation for the Final Investment Decision (FID).

The project is now the most advanced of the proposed LNG import projects in Australia. The specific site within Port Kembla has been selected, Front End Engineering and Design (FEED) has been completed, the FSRU vessel has been secured, the Environmental Impact Statement (EIS) has been submitted and reviewed, and a number of key commercial contracts including LNG supply, Port access, shortlisted EPC contractors, and customer offtake agreements are nearing finalisation. Based on our extensive EIS we are hopeful of obtaining NSW Government Determination (Development consent) in the coming weeks.

The project sponsors are now establishing an organisational structure to carry the project into its construction and operations phase. With this change of focus and in line with his original appointment agreement, incumbent CEO, James Baulderstone is leaving the project. He is taking up a new role in the Australian industrial sector. The leadership for the next phase will be subject to a further announcement.

James Baulderstone commented: “The need for both more energy supply and more energy suppliers is critical to solving the current issues faced by energy consumers. I am pleased that the AIE project has been able to position itself as the leading import gas project so quickly. I am confident that the project will move through to the execution phase and start providing energy solutions to Australian industry in the very near future. I am looking forward to returning to work in this sector myself and play a part in maintaining a sustainable manufacturing base for Australia.”

Steering Committee Chairman, and Squadron Energy CEO, Stuart Johnston said: “James has done a tremendous job in bringing the project this far, this quickly. We have benefited significantly from his leadership and deep knowledge of the Eastern States Gas market and congratulate him on his achievement in pulling together such a commercially complex project in record time. We’re excited to be taking this project forward and remain on track to deliver gas into New South Wales in 2020.”

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