LNG

AGL Energy, the Australian utility whose plans for an LNG import terminal in the state of Victoria were thwarted by regulators, has rejected an unsolicited joint bid of over US$3.5 billion from Brookfield Asset Management of Canada and one of Australia’s wealthiest individuals.

Leading Australian gas and power supplier AGL Energy has confirmed it will cease any further development of the proposed Crib Point LNG import project in the southern state of Victoria as it also pursues a corporate overhaul by spinning off infrastructure assets.

Höegh LNG, the Norwegian project company and fleet owner, said it was business as usual on the high seas, at import terminals for deliveries and production plants for liftings despite the challenges.