Gladstone Ports Corporation signs PSAs with LNG exporters

Gladstone Ports Corporation has concluded port services agreements with Queensland’s LNG exporters, paving the way for a ramp up of LNG shipments from Curtis Island.

Treasurer Curtis Pitt said in a statement that PSAs had been negotiated with Queensland Curtis LNG, Australian Pacific LNG and Gladstone LNG.

He added that the agreements are a milestone towards significant expansion in Queensland’s LNG exports from the Port of Gladstone.

“Queensland’s $60 billion LNG industry is ramping up, having already exported $1.14 billion worth of gas from January to July. Exports are projected to hit $15 billion by 2016-17,” Pitt said.

PSAs provide a contractual framework for allocating port capacity and charging for access to the Port of Gladstone’s main shipping channels and other supporting infrastructure.

From 2016, with all three LNG projects in export phase, up to ten vessels will be loaded per month, which is a significant increase in port and vessel traffic. Pitt stressed the need for strong port service agreements in place to manage the Port of Gladstone.

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Image: Bechtel