Liquefied Natural Gas Ltd. (LNGL), Perth, has decided to abandon the Fisherman’s Landing project at the Port of Gladstone in Queensland. The proposed development was to have been a midscale, 3.5 million-tonne/year LNG plant—the fourth in the Gladstone area.
LNGL had secured a 24-hectare site on the mainland via a 20-year lease from Gladstone Ports Corp. Ltd. with two 5-year extension options. The site was directly opposite the three existing LNG plants on Curtis Island and the company planned an initial development based on two trains of 1.5 million tpy each. LNGL had hopes of eventually moving up to four trains for a total capacity of 7 million tpy.
Each train required a minimum gas supply of 260 terajoules/day, which equates to 1,800 petajoules over a 20-year period to be economically viable.
However, after a number of years without any success in securing the long-term gas supplies needed to proceed with construction, LNGL has decided to no longer fund the costs associated with maintaining the site and close the project down.
Managing Director Greg Vesey said it was not an easy decision, but a strategic one and the company is now completing the paperwork involved in relinquishing the site as well as notifying other relevant regulators.
LNGL’s remaining portfolio comprises the development of the 8 million-tpy Magnolia LNG export terminal in the Port of Lake Charles, La., and the development of the 8 million-tpy Bear Head LNG terminal in Richmond County, NS. The Canadian project involves the associated proposal to construct and operate a 62½-km gas pipeline lateral to connect gas supply to the Bear Head plant.
LNGL has 100% interest in the three subsidiary companies that are involved in the developments.