Australian LNG Projects Face Cost Risks, Wood Mackenzie Says
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Liquefied natural gas projects on Australia’s east coast face the risk of cost overruns and delays because of rising competition for skilled workers, Wood Mackenzie said.
A 10 percent to 30 percent cost increase would decrease the value of a coal-seam-gas-to-LNG development by as much as 47 percent, Craig McMahon, the firm’s head of upstream research for Australasia, said in a statement. McMahon is speaking in Perth today at an oil and gas industry conference.