Advisory firm Wood Mackenzie (Woodmac) has warned that Australia has to be more competitive to progress $50-billion-plus worth of planned liquefied natural gas (LNG) projects that are targeted for a final investment decision (FID) in the next three years.
Speaking at the Australian Petroleum Production and Exploration Association conference, in Brisbane, research director Angus Rodger said this week that being a traditionally high-cost location and with a history of big cost blowouts, Australian operators need confidence that this round of projects could be delivered on time and on budget, for the next wave of project sanctions to progress.