Business
Revenue from Queensland’s three LNG projects is forecast to slide another $2.5 billion this year as prices continue a “wild ride” but this comes amid warnings renewables are a long way from taking over the local energy market.
Business
The surge in renewable energy generation in Queensland is offsetting China’s ban on Australian coal and has given a boost to the LNG industries where east coast production hit a record in December, according to analyst EnergyQuest.
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Australian LNG revenue has halved since this time last year and fell by $1 billion in July alone, according to energy advisory firm EnergyQuest.
Queensland’s $70 billion LNG industry is in strife with prices collapsing, export revenue slashed and cargoes at anchor or “steaming in circles’’.
The push for domestic gas supply could mean that one or possibly two of the Curtis Island LNG trains could be shut down and Australia would have to deal with a supply shortage through imports, according to a leading energy analyst.
