Help Desk -
9717405332, 9599714297, 9810335381
Email
Password

LNG Import Terminal Gets Official Green Light at the Port of Newcastle

Logistic News - Published on Fri, 23 Aug 2019

Image Source: https://www.hydrocarbons-technology.com
The state government of New South Wales, Australia, has given top-level “Critical State Significant Infrastructure” status to move forward with a USD 500 million liquefied natural gas import terminal at the Port of Newcastle. “Critical State Significant Infrastructure” projects are high priority projects “essential” for the state of New South Wales on economic, social or environmental grounds. They are usually large, expensive and high value projects.

When a project is deemed to be “Critical State Significant Infrastructure”, planning processes and decisions are moved out of the hands of the local council and are decided by the state minister of planning with the assistance of his or her department. The planning process is streamlined.

Project proponents have to apply to the state planning minister for this designation. The NSW Minister for Planning and Public Spaces, Rob Stokes, approved the LNG gas import terminal application.

Mr John Barilaro, NSW’s Acting Premier, said that “The terminal could be operational by 2022-23 and provide supply for gas-fired power stations, helping to manage energy security during the period in which the Liddell [coal-fired] power station is scheduled to close. This LNG terminal would significantly address this risk and help secure a reliable and affordable future for NSW’s gas supply.”

The Port of Newcastle said that the announcement recognises the need to “significantly” increase local natural gas supply, promote competition and “put downward pressure” on the local price of natural gas. Port of Newcastle CEO Craig Carmody commented, “this is a critical future-proofing project for the region. Projects such as the EPIK Newcastle GasDock project open a number of new trade opportunities, develop capability and support businesses and jobs across the Hunter Region and around New South Wales.”

Source :

Posted By : Mohan Sharma on Fri, 23 Aug 2019
Related News from Logistic segment