LNG

Hancock Energy, the oil and gas company run by entrepreneur Gina Rinehart, has increased its bid for the Perth Basin natural gas company Warrego Energy by almost 30 percent and has now outbid mining company Mineral Resources for the prize of a gas field stake with LNG feed-gas potential.

July 21 (LNGJ) - Beach Energy, the owner with Japanese trading house Mitsui of the Waitsia natural gas field in the onshore Perth Basin of Western Australia, said development was on schedule along with marketing of future LNG volumes.

   “In the Perth Basin, along with our joint venture participant Mitsui E&P Australia, we are nearing commencement of construction of the gas facility for the Waitsia Gas Project Stage II, with contractor Clough on track to turn the first sod in the first half of 2022,” said Beach Energy Chief Executive Matt Kay in the quarterly activities report. Beach said it was continuing the marketing of its 50 percent share of the 7.5 million tonnes per annum of LNG expected from the Waitsia field and to be processed at the Woodside Petroleum-operated North West Shelf liquefaction plant.