Browse blues sink in

Monday, 22 June 2015

Some realistic gloom today for Australian LNG that regular readers will recognise as old news, from the AFR:

Woodside Petroleum’s Browse floating project, the Sunrise venture in the Timor Sea, and the ExxonMobil-led Scarborough project off Western Australia will all take longer than anticipated, as will most Canadian LNG projects, said Singapore-based Dr Fesharki, chairman of FACTS Global Energy.

“The Australian projects, there is room for them, but they will have to wait,” Dr Fesharaki said, pointing to a need for more contracted supplies only in 2025 or later.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.