APLNG hit by delays
Regulatory delays have pushed back the final investment decision for the ConocoPhillips and Origin Energy-owned Australia Pacific Liquefied Natural Gas (APLNG) project in Queensland until next year.
Origin said it had been advised by Federal Environment Minister Tony Burke that he had extended the deadline for his assessment of the project's environmental impact statement (EIS) by two months.
Burke was due to give a final decision on the A$35 billion (US$34.8 billion) coalbed methane project on 21 December but has now extended the deadline until 22 February.
Origin said the minister had advised it the additional time was required because of the scale and complexity of the project.
APLNG project director Page Maxson said the joint venture could not make a final investment decision on the project until it had gained Commonwealth approval.
“The project will not be able to proceed to a final investment decision until, at least, such time as the EIS approval process is complete,” he said.
The ministry's delay was unrelated to the recent discovery of traces of a carcinogenic toxin in some of project's exploration wells this year, a spokeswoman for Origin said.
Origin has said that an investigation found there was no significant risk to the environment or human health from the toxin, which was found in tiny amounts.
The final investment decision on the project was expected to be made by the end of this year, with the first gas expected to be exported in late 2014. It will have an initial capacity of 4.5 million tonnes per annum, eventually ramping up to 18 million tpa.
Wednesday 15 December 2010
Upstream
Origin said it had been advised by Federal Environment Minister Tony Burke that he had extended the deadline for his assessment of the project's environmental impact statement (EIS) by two months.
Burke was due to give a final decision on the A$35 billion (US$34.8 billion) coalbed methane project on 21 December but has now extended the deadline until 22 February.
Origin said the minister had advised it the additional time was required because of the scale and complexity of the project.
APLNG project director Page Maxson said the joint venture could not make a final investment decision on the project until it had gained Commonwealth approval.
“The project will not be able to proceed to a final investment decision until, at least, such time as the EIS approval process is complete,” he said.
The ministry's delay was unrelated to the recent discovery of traces of a carcinogenic toxin in some of project's exploration wells this year, a spokeswoman for Origin said.
Origin has said that an investigation found there was no significant risk to the environment or human health from the toxin, which was found in tiny amounts.
The final investment decision on the project was expected to be made by the end of this year, with the first gas expected to be exported in late 2014. It will have an initial capacity of 4.5 million tonnes per annum, eventually ramping up to 18 million tpa.
Wednesday 15 December 2010
Upstream
posted by SEAAOC @ 12:03 PM
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