$250m LNG import terminal for VIC

CRIB Point in Victoria is AGL’S preferred site for a gas import jetty and pipeline to increase energy security and supply for customers in south east Australia.

AGL plans to invest about $250 million, commence construction in 2019, and bring the terminal into operation by 2020/21.

AGL announced that Crib Point was well placed to take advantage of the existing pipeline network, industrial port facility and associated infrastructure.

AGL Executive General Manager – wholesale markets Richard Wrightson said AGL would continue working on the proposal with relevant stakeholders, including Government authorities and the Western Port community.

“This doesn’t signal the end of the feasibility studies for the proposed site but now accelerates the process. We look forward to ongoing consultation with the local community to answer their questions and proceed towards a formal application to the Victorian Government,” he said.

“This project will enable access to the world market for gas, injecting some much-needed competition into the Australian market and help ease the tight gas supply.

The Andrews Labor Government stated that the facility would allow the importation of cheaper gas from interstate and international markets – improving the reliability of the State’s gas supply and reducing the price.

The Labor Government would work closely with AGL to ensure approvals processes were streamlined.

“Affordable energy is critical to our economic prosperity and society. That’s why we welcome AGL’S Crib Point project – to help secure the reliability of our gas supply, drive down prices and create local jobs,” Premier Daniel Andrews said.

“The fact remains that Australia is exporting two-thirds of its gas overseas. Malcolm Turnbull needs to put a cap on exports to provide immediate relief on prices.”

"The FACT remains THAT AUSTRALIA is exporting Two-thirds Of its gas Overseas."

Image: AGL newcastle Gas Storage Facility.