LNG

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 oil and gas company and newest prospective LNG exporter from the onshore Perth Basin, has posted a jump in fiscal half-year net profit after tax as it made progress on its LNG export project and the provision of offshore natural gas to the East Coast market .