The planning for a vital $250 million gas terminal at Port Kembla has been approved by the NSW Government.
The gas terminal will not only be a major boost for the local economy in Port Kembla and the wider Illawarra region, but will also help to drive down the cost of living and operating a business across NSW.
This terminal will make the state of NSW more self-sufficient when it comes to energy, and will create greater access to global gas markets. It also supports diversification, future growth and employment in Port Kembla and the Illawarra-Shoalhaven region.
Squadron Energy CEO Stuart Johnston said his company was proud to be involved in the development of the project.
“The Port Kembla Gas Terminal presents a real opportunity for NSW to take control of its gas supply challenges by introducing significant new and competitively priced supply directly into the heart of the Illawarra industrial region,” Mr Johnston said.
“We are extremely pleased to obtain the development consent. It paves the way for us to now focus on closing commercial negotiations with customers, which in turn will enable the project to take a positive Final Investment Decision around the middle of the year.”
Australian Industrial Energy (AIE) will construct a new berth at Port Kembla to accommodate Liquefied Natural Gas (LNG) carriers, a floating LNG handling facility, wharf infrastructure and a pipeline to connect to the existing NSW east coast gas network nearby.