LNG

Beach Energy increased sales in the fiscal first half and was on scheduled to have first natural gas from an LNG feed-gas project in Western Australia and first gas from an East Coast venture while the company painted a gloomy picture of the energy business in New Zealand.

Beach Energy of Australia said an agreement had been reached with Webuild SpA, the Italian industrial group, for the completion of the Waitsia Stage 2 project for LNG feed gas from the onshore Perth Basin subject to finalisation of the bankruptcy administration of previous engineers Clough Limited.

Beach Energy, the Australian exploration and production company set to become the nation’s newest LNG exporter in 2023, said it was continuing to improve natural gas assets at home around the Otway Basin offshore in south Australia and in New Zealand in the Taranaki Basin.

Beach Energy, the Australian exploration and production company set to become the nation’s newest LNG exporter in 2023, has completed its Otway Basin drilling campaign offshore South Australia and Victoria to boost domestic supplies.

Nov 2 (LNGJ) - Beach Energy, set to be the newest Australian LNG export company from onshore Perth Basin resources, said Chief Executive Matt Kay was leaving Beach to pursue other opportunities. Beach Chief Financial Officer Morné Engelbrecht was appointed acting CEO effective immediately while a search is conducted to find Kay’s replacement.

   Beach Chairman Glenn Davis paid tribute to Kay for his leadership in transforming the company into a strategically diverse business that is well positioned to deliver material gas production into the tightening Australian East Coast, New Zealand and international LNG markets.