At least $14.8 billion worth of gas projects are on track for final investment decisions next year, according to Wood Mackenzie’s (WoodMac) Australasian upstream 2021 outlook.
With liquefied natural gas (LNG) backfill as the focus, there are three upstream FIDs pending, including Mitsui’s Waitsia project, Santos’ Barossa project and Woodside’s Scarborough project, as well as the AIE Port Kembla LNG import terminal, which would supply the east coast market.
WoodMac senior analyst Daniel Toleman said after doing everything possible to tighten belts this year, Australian operators would have to start spending.
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