Australia’s AGL Energy delays Crib Point LNG project
Australian utility AGL Energy has delayed the start of operations at its Crib Point liquefied natural gas import project in Victoria to the second half of the financial year 2022.
The company noted in its statement it had previously indicated first gas could potentially be delivered during FY21.
Confirmation of this timetable follows AGL’s decision to select the Höegh Esperanza as the floating storage and regasification unit (FSRU) for the Crib Point project, as opposed to the Höegh Giant as communicated in December 2018.
AGL believes the Esperanza better fits timing and operational requirements arising from the Environment Effects Statement (EES) process currently being undertaken by the Victorian government.
The Hoegh Esperanza has a later delivery window than the Hoegh Giant, the statement reads.
AGL expects the outcome of the EES to occur no earlier than late FY20, subject to and following which AGL expects to reach a final investment decision on the Crib Point project.