Largest Australian power company and failed LNG developer AGL sees shares plunge along with earnings
AGL Energy, the largest Australian power company whose plans for an LNG import terminal in the state of Victoria were thwarted by regulators and which fought off takeover interest from various quarters, saw its shares tumble 10 percent after very disappointing results and doubts on strategy.
Australian utility AGL whose LNG import ambitions were thwarted is at centre of US$3.5 billion takeover
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.
AGL Energy signs pipeline natural gas deals for south Australia supplies after floating LNG plan rejected
AGL Energy, the leading Australian gas and power supplier forced to cease any further development of the proposed Crib Point LNG import project in the southern state of Victoria, has signed pipeline natural gas supply agreements with Cooper Energy.
Höegh LNG Holdings reports loss amid takeover and mixed tender and project results for FSRU fleet
Höegh LNG Holdings, the Norwegian shipping company acquired in a takeover by Norwegian interests and a unit of US investment bank Morgan Stanley, posted a wider loss in the first quarter of 2021 as it reported setbacks in its tenders for projects.
Australian LNG exports increase in March from the previous month underpinned by China demand
Australian LNG shipments to North Asia from the world's largest exporter hit record levels for some nations in March and revenues increased from the previous month, led by Chinese demand for cargoes.
Höegh LNG says Indian FSRU start-up set for end of March and updates on Australia and Philippines
Höegh LNG, the Norwegian LNG fleet owner and floating terminal projects company, returned to profit in the fourth quarter as it prepared to deploy a floating storage and regasification unit (FSRU) as India’s latest import terminal in the West Coast port of Jaigarh in the state of Maharashtra.
AGL Energy makes attempt to convince inquiry into LNG project at Crib Point in southeast Australia
Australia's AGL Energy has pushed its case for regulatory approval for its liquefied natural gas import project at Crib Point in southeast Australian in the largest ever environmental assessment inquiry held in the state of Victoria.
Australia expected to have record LNG output and keep World No. 1 spot even with plants off stream
Australia is on track for record LNG shipments to remain the world’s largest exporting country, ahead of Qatar and the US, even in a year when two plants suffered long shutdowns and economies worldwide were slowed by the Covid-19 pandemic.
Australian Industrial Energy secures Port Kembla lease for floating LNG terminal south of Sydney
Australian Industrial Energy, a company controlled by billionaire businessman Andrew Forrest, has signed a site lease for up to 25 years with New South Wales Ports for the Port Kembla Gas Terminal project to handle LNG shipments and resolve gas shortages in the region.
Venice Energy signs deal with Flinders Ports to develop South Australia floating LNG import facility
Venice Energy, the group planning a project to import LNG into South Australia, said it signed a project agreement with Flinders Ports that sets out the framework to support the development of the floating facility in Port Adelaide.
A concept design has been agreed by both companies that would guide the development of two new operating berths as well as associated onshore facilities at Outer Harbor, subject to development approval.
Venice Energy said its LNG import facility would enhance the supply of gas to South Australian domestic and industrial users.
Managing Director of Venice Energy, Kym Winter-Dewhirst, said the terminal would bring significant benefits to the state.
“Importing LNG into South Australia will improve and diversify local gas supplies, especially during peak periods and help to underpin South Australia’s globally leading renewables sector by providing firm despatchable energy at times when wind and solar are not operating,” explained Winter-Dewhirst.
“It will also increase the State’s energy security and enable downward pressure on gas prices for all users,” he added.
“Our proposed facility is expected to bring around 80 petajoules per annum (2.14 billion cubic metres) of natural gas into South Australia and with supplies forecast to tighten in just a few years’ time, importing LNG makes sense,” he stated.
The proposed facility would be located adjacent to the Pelican Point gas fired power station next to the already productive Flinders Ports quay line.
Subject to various approvals and other issues set out in the project agreement with Flinders Ports, the facility is expected to be operational by 2022.
At least two other Australian LNG import projects are progressing, including one by billionaire businessman Andrew Forrest's Squadron Energy in New South Wales at Port Kembla, south of Sydney.
A second Australian LNG import project is proposed at Crib Point at the Port of Hastings in the state of Victoria by AGL Energy.
Australia, while being the world's largest LNG exporter, is moving to LNG imports in southeast Australia because of natural gas shortages for industrial and domestic retail supplies.
