Wood Mackenzie released report following Australia’s recent extreme rainfall on the east coast and its tragic human toll. Wood Mackenzie has analysed the impact on the upstream industry.
While the rains and rivers are now subsiding, some areas surrounding Queensland’s prime Coal Seam Gas (CSG) acreage in the Surat basin remain inundated.
The key findings of Wood Mackenzie’s analysis of the impact of the upstream industry, titled ’Queensland LNG Projects weather the storm’ are:
Wood Mackenzie’s current analysis suggests that the impact of flooding on Queensland’s CSG industry is not expected to be as severe as in previous years because flooding is more localised; Operators have built in greater contingency for wet weather events in drilling and construction, given the experience of previous years; and APLNG, GLNG and QCLNG have additional rigs on site with which to recover any lost time.
[mappress] LNG World News Staff, February 04, 2013; Image: Santos