AGL Energy Inks Deals for LNG Import Jetty

Australian power producer AGL Energy said on Tuesday it has signed two agreements for its planned liquefied natural gas (LNG) import terminal at Crib Point in the southeastern state of Victoria.

The first is with pipeline firm APA Group to develop and construct the Crib Point Pakenham pipeline, and transport gas from the proposed LNG terminal to the domestic market, AGL said.

The second is with the Port of Hastings Development Authority for the long-term use of Crib Point Jetty berth 2 to moor the floating storage and regasification unit (FSRU).

Both are subject to a final investment decision to be made on the terminal by the financial year 2019.

The company expects the delivery of first gas into the domestic market during the 2021 financial year.

AGL said it is working on getting environmental approvals and licensing requirements for the project and is negotiating commercial arrangements for LNG supply and long-term charter of the FSRU.

(Reporting by Jessica Jaganathan; Editing by Subhranshu Sahu)