Australia books FSRU
Australian Industrial Energy (AIE) said November 30 it had signed an agreement with Hoegh LNG for a floating storage and regasification unit for a terminal under development at the Port of Kembla.
The floating storage and regasification (FSRU) unit, Galleon, will serve the terminal planned at the port. Construction of the berthing facilities is already underway and AIE said it expects the terminal to be in service by the middle of 2023.
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AIE CEO Andrew Hagger said the regasification unit would provide a bridge to a cleaner future as the energy transition evolves.
“With the phasing down of Australia’s fossil fuel industry already underway, the terminal will be critical to ensuring hundreds of thousands of Australian businesses and households avoid supply shortfalls from 2023 onwards,” he said.
The Kembla port is situated just south of Sydney in New South Wales.
Plans for the FSRU follow the release of Australia’s first full National Gas Infrastructure Plan (NGIP) and the Future Gas Infrastructure Investment Framework to help secure the country’s gas supplies over the next 20 years.
According to the NIGP, at least one new basin will need to be brought online before 2030 to meet projected east coast gas demand. The critical basins to unlock out to 2030 include the Narrabri gas project in New South Wales, the Beetaloo sub-basin in Northern Territory, and the Galilee and North Bowen basins in Queensland.