Giant LNG pirate ship arrives to plunder Australia

Advertisement

Via the AFR:

Shell’s groundbreaking Prelude floating LNG plant off Australia’s far northwest coast has gone “live” ahead of the start of production later this year, chief executive Ben van Beurden has confirmed.

LNG and liquefied petroleum gas have both been introduced into the plant in preparation for commissioning and testing of processes and systems is now under way before the offshore wells are opened up for production, Mr van Beurden told investors in London.

“The offshore team is preparing for that moment, getting the seven wells tied to the facility and ready to flow,” he said.

I used to support the efficiencies of FLNG. But when you combine it with Shell’s terrestrial gas piracy on the east coast I just can’t swallow any of it any more. The idea that a foreign-crewed pirate ship sails in, sucks out the gas, liquefies it at sea, then pumps it off to Asia without ever touching shore, is too symbolic of how far the plundering of Australian resources has come.

I have no faith that this giant vampire squid will pay its fair share of taxes, either.

Advertisement

Australia needs a royal commission into its entire resource management regime preferably before the endowment is entirely exhausted.

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.