Australian Property News
Official go ahead for Inpex LNG project today
Posted on Friday, January 13 2012 at 11:57 AM
A highly anticipated $25 billion gas project for Darwin and Western Australia will be given the official nod today, as indicated in a full-page Inpex advertisment in today’s Northern Territory News, reported ABC News Online.
The Ichthys onshore processing facility will be constructed on the Blaydin Point plant in Darwin Harbour; a workers’ camp will be constructed south of Darwin, near Palmerston city.
The estimated life of the project is a minimum of 40 years, with 527 million barrels of condensate and 12.8 trillion cubic feet of gas expected for output.
Thousands of jobs will be required just for the project construction; the first gas output is expected in 2016.
The Ichthys gas subsea pipeline stretches from the Browse Basin in WA to the NT’s Blaydin Point on the Middle Arm Peninsula.
Long-term sales and purchase agreements have already been signed with utility companies in Japan and Taiwan, reported ABC News Online.
Follow us on Twitter.
Was this article helpful? Place a link to it from your website, or share it using the button below.
Affordability index sees fall in June quarter
Another big lender makes investor loan changes
50% of investors plan to buy in next year
Most still feel now’s a good time to buy
ANZ increases investor loan rates
Sydney median breaks $1m mark