Next wave of Aussie LNG Projects Lagging

Contenders for next wave of Aussie LNG emerge - Interfax Robert Sullivan | Time appears to be running out for Australia's second wave of major LNG export projects – with options in the United States, Canada and East Africa emerging as more cost-competitive alternatives for Asian buyers. Over 60 mtpa of additional output has been proposed in the form of greenfield projects and brownfield expansions, but FIDs on some of these projects have been delayed or deferred, with high development costs raising questions about commercial viability. Australia is now facing its first year without a major LNG project FID since 2008. Furthermore, a 2013-2014 budget report from the Western Australian (WA) government last week indicated LNG investment in the state peaked last year and is forecast to drop over the mid-term, as there are not enough projects in the development pipeline to maintain spending at its current level.