July 2013, Vol. 240 No. 7
Projects
Australia Facing Hiatus In LNG Development
At APPEA 2013, Wood Mackenzie’s head of Australia Upstream Consulting, Andrew McManus, warned Australia faces a hiatus in LNG projects as the focus of buyers has turned to the U.S., where he said customers can find potentially lower-cost, more flexible LNG and the opportunity to diversify supply portfolios. McManus said, “There are five key issues driving buyer motivations in the current market: supply portfolio diversification, exposure to Henry Hub pricing, greater flexibility in contract terms, projects that can be sanctioned quickly and access to upstream equity. For these reasons, U.S. supply has become the most favorable near-term option that is for deals where
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