Korea’s POSCO suspends A$1Bln investment in Queensland gas and LNG hub over Government cap plan
Senex Energy, a leading coal-seam gas company controlled by South Korea’s POSCO International in the onshore Surat Basin of Queensland and which is part of the Gladstone LNG upstream supply chain, said it would have to suspend its A$1 billion (US$670 million) investment plan because of the Australian government gas price cap and market interference.
South Korean steel-maker POSCO seeks LNG security with US$600M bid for Australian feed-gas supplier Senex
Australian coal-seam gas producer Senex Energy said it had received an A$815 million (US$605M) takeover proposal from POSCO International Corp., the South Korea industrial company, seeking to secure LNG imports.
Higher Australian LNG exports to North Asia offset by domestic investment delays in new projects
Australian liquefied natural gas exports continue at near record levels, underpinned by demand from North Asia and while Train shut-ins are unlikely, the oil price fall has led to LNG and gas investment delays.
