Critical Decision In Days For $17.5 Billion Australian Gas Project
The post Critical Decision In Days For $17.5 Billion Australian Gas Project appeared on BitcoinEthereumNews.com. Australia’s role as a major supplier of liquefied natural gas (LNG) to countries in Asia is at risk as a newly appointed government minister considers whether to grant final approval for the construction of a long-delayed project. The proposed $17.5 billion Browse development could supply 11.4 million tons a year of LNG to customers in Japan and China but has been bogged down for more than a decade by changes to its design and objections from environmental activists. Australian Environment Minister Murray Watt. (Photo by Dan Peled/Getty Images) Getty Images Murray Watt, who was appointed Australia’s Environment Minister earlier this month says he will make a decision on Browse by the end of next week. Pressure on the Australian Government to make a decision on Browse intensified earlier this year when a senior Japanese energy official warned that his country would look elsewhere for LNG unless Australia changed its slow-motion decision-making process. Hitoshi Nishizawa, senior vice-president with JERA, a Japanese energy buying business owned by power utilities, said his organisation would look elsewhere for gas supplies if Australian project development decisions continued to be delayed. “While Australian LNG is expected to continue to make up part of Japan’s long-term energy mix, in the future it may not be the first choice as it has been in the past,” Nishizawa said. That warning will be a factor in Watt’s decision on Browse, along with protests from environmentalists opposed to the development which is centred on a series of gasfields 265 miles off the coast of Western Australia. The Clock Is Ticking “The clock is ticking,” Nishizawa said. “Inaction could potentially cost Australia thousands of jobs, billions of dollars in lost revenue and weaken regional trade partnerships.” Based on three gas deposits discovered more than 40 years ago, Browse was originally planned…
The post Critical Decision In Days For $17.5 Billion Australian Gas Project appeared on BitcoinEthereumNews.com.
Australia’s role as a major supplier of liquefied natural gas (LNG) to countries in Asia is at risk as a newly appointed government minister considers whether to grant final approval for the construction of a long-delayed project. The proposed $17.5 billion Browse development could supply 11.4 million tons a year of LNG to customers in Japan and China but has been bogged down for more than a decade by changes to its design and objections from environmental activists. Australian Environment Minister Murray Watt. (Photo by Dan Peled/Getty Images) Getty Images Murray Watt, who was appointed Australia’s Environment Minister earlier this month says he will make a decision on Browse by the end of next week. Pressure on the Australian Government to make a decision on Browse intensified earlier this year when a senior Japanese energy official warned that his country would look elsewhere for LNG unless Australia changed its slow-motion decision-making process. Hitoshi Nishizawa, senior vice-president with JERA, a Japanese energy buying business owned by power utilities, said his organisation would look elsewhere for gas supplies if Australian project development decisions continued to be delayed. “While Australian LNG is expected to continue to make up part of Japan’s long-term energy mix, in the future it may not be the first choice as it has been in the past,” Nishizawa said. That warning will be a factor in Watt’s decision on Browse, along with protests from environmentalists opposed to the development which is centred on a series of gasfields 265 miles off the coast of Western Australia. The Clock Is Ticking “The clock is ticking,” Nishizawa said. “Inaction could potentially cost Australia thousands of jobs, billions of dollars in lost revenue and weaken regional trade partnerships.” Based on three gas deposits discovered more than 40 years ago, Browse was originally planned…
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