NSW Govt Supports LNG Import Terminal

August 15, 2019

New South Wales Government is considering a proposal for a $590 million liquefied natural gas (LNG) import terminal in the Port of Newcastle, with the project given critical state significance.

Under the prosposal, the terminal will be built at Kooragang Island in Newcastle Port and promises to supply NSW with up to 80 per cent of its gas requirements.

The Newcastle GasDock project - with an estimated direct onshore investment of up to AUD$250M at the Port - today received Critical State Significant Infrastructure (CSSI) status from NSW Minister for Planning and Public Spaces, the Hon Rob Stokes MP.

The announcement by Acting Premier John Barilaro and Mr Stokes recognises the need to significantly increase local gas supply, promote competition between suppliers and put downward pressure on the State's gas prices.

Port of Newcastle CEO Craig Carmody congratulated Minister Stokes and the Berejiklian Government on their support for regional economic development.

"This is a critical future-proofing project for the region. Projects such as the EPIK Newcastle GasDock project open a number of new trade opportunities, develop capability and support businesses and jobs across the Hunter Region and around New South Wales," Carmody said.

The project - proposed by South Korean group EPIK - involves the use of an LNG Floating Storage and Regasification Unit (FSRU), a vessel designed to safely store the liquefied product and then convert it into a useable gas for industrial, commercial and residential customers in NSW.

The 170,000m3 class FSRU will connect to a new jetty planned to be built on port land at Kooragang Island, enabling a connection to the existing East Coast natural gas network.

Logistics News

PMA: Panama-Flagged Vessels Must Notify of Ship-to-Ship Transfers

PMA: Panama-Flagged Vessels Must Notify of Ship-to-Ship Transfers

Sovcomflot Plunges to $393m Loss in Q1 Amidst Sanctions

Sovcomflot Plunges to $393m Loss in Q1 Amidst Sanctions

BAE Systems Set to Open $250M Shiplift Facility in Florida

BAE Systems Set to Open $250M Shiplift Facility in Florida

Ports of Indiana, Port of Antwerp-Bruges Explore Indiana-Belgian Partnership

Ports of Indiana, Port of Antwerp-Bruges Explore Indiana-Belgian Partnership

Subscribe for Maritime Logistics Professional E‑News

Bessent: Trump's tariff threat could ignite a fire in the EU during trade negotiations
Volvo Cars CEO: Customers must pay for tariff increases
Portugal's TAP records larger loss as competition and strike bite