LNG

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.

Leading Australian utility company AGL Energy posted a large fiscal first-half loss due to impairments but in post-earnings statements the company said it expected to make a final investment decision soon on the liquefied natural gas import project at Crib Point in the southeast Australian state of Victoria.