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Northbridge Industrial Services Plc

Over $50 Billion in New LNG Projects Aiming for Sanction

According to research by Wood Mackenzie, a second wave of LNG investments is building, and in Australia, over $50 billion worth of LNG projects are targeting final investment decision (FID) over the next three years.

These include Pluto expansion and backfill projects such as Browse, Scarborough, Barossa, Crux and Clio-Acme. Their combined capital expenditure represent nearly half of Australia’s forecast total upstream spend over the next five years.

“Traditionally a high-cost location and with a recent history of big cost blowouts, Australian operators need to have confidence that this round of projects can be delivered on time and on budget, for the next wave of project sanctions to progress,” said research director Angus Rodger.

 

Northbridge Industrial Services plc (LON:NBI) hires and sells specialist industrial equipment to a non-cyclical customer base. With offices or agents in the UK, US, Dubai, Belgium, Germany, France, Australia, Singapore, New Zealand, Brazil and Korea, Northbridge has a global customer base.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.