By Stuart Radnedge2012-08-24T11:44:00+01:00
Australia’s liquefied natural gas industry is at a crossroads because of cost increases and poor labour productivity in the country, Chevron’s Australia Chief Executive Roy Krzywosinski said.
The country’s LNG industry has around A$180 billion of committed projects and potentially a further A$100 billion of projects that could be “enabled” depending on markets and cost challenges, Mr. Krzywosinski told a business forum in Perth.
“The industry and the Australian government need to start talking about solving issues such as labor costs and tax,” he said.
“If reforms aren’t forthcoming, some LNG projects may start falling off, and investment will dry up,” Mr Krzywosinski added.
Chevron, the second-biggest US oil company by market value after Exxon Mobil, is building the huge Gorgon and Wheatstone gas export projects in Western Australia state.
Chevron is targeting an expansion of the 43 billion Australian dollar (US$45 billion) Gorgon project in 2014.
The Australian LNG industry has “probably the highest cost base now” anywhere in the world, Shell Australia Chairwoman Ann Pickard said last month.
Company will break ground on August 22 for construction of a new air separation plant in Lewisville, Arkansas.
Air Products South Africa announces information on its specialised plant that produces Lasox – the high purity laser oxygen.
The annual celebration of Coventry’s automotive heritage will take place this bank holiday weekend at the city’s Festival of Motoring, and – for the first time – will feature a unique insight into the transport innovations of tomorrow.
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