Archived News for Energy Sector Professionals
Origin Energy has announced that Australia Pacific LNG Pty Limited has signed agreements with a syndicate of domestic and international commercial banks and export credit agencies for an US$8.5 billion project finance facility. Participants in the facility include the Export-Import Bank of the United States (US EXIM), The Export-Import Bank of China (China EXIM) and a syndicate of domestic and international commercial banks.
The project finance facility provides funding for the downstream parts of the project, including the liquefaction facilities on Curtis Island near Gladstone in Queensland, and will underpin the development of Australia Pacific LNG's CSG to LNG project. The facility is subject to a final investment decision (FID) being taken on the second phase of the Australia Pacific LNG project.
The commercial banks and US EXIM have signed the definitive project finance documentation with Australia Pacific LNG for 16 and 17 year terms respectively. China EXIM has signed a commitment letter agreeing to the key terms of the project finance facility, with its signing of the definitive documentation expected to occur shortly. Draw down under the project finance facility, which is subject to customary conditions precedent, including certain government approvals, will be made progressively over the construction phase of the project.
ACCC gives nod to AGL acquisition of Loy Yang
The Australian Competition and Consumer Commission has announced it will not oppose the proposed acquisition by AGL Energy Limited (AGL) of Great Energy Alliance Corporation Pty Limited (GEAC), which owns Loy Yang Power (LYP) (owner of the Loy Yang A power station).
Clean Technology Investment expert committee appointed
The Minister Assisting for Industry and Innovation, Senator Kate Lundy, has announced the appointment of an independent expert committee to help Innovation Australia deliver the $1 billion Clean Technology Investment programs.
IEA praises Energy Efficiency Program
The International Energy Agency (IEA) has praised the Federal Government’s Energy Efficiency Opportunities (EEIO Program, describing it as a successful example of how government policy can work with industry to reduce energy use.
Queensland pulls support for Cloncurry Solar Farm
The Queensland Government has announced it has withdrawn financial support for the Cloncurry Solar Farm as part of the state’s ongoing cost cutting.
Report predicts turbulent years ahead for engineering sector
Australia’s consulting engineering, architecture and associated industries are set to experience a chaotic next three years with continual restructures required in order to remain globally competitive, according to Consult Australia’s 2012 Economic Forecast report.
The Report, written by former BHP Chief Economist, Geoffrey Bills is considered one of the industry’s most valuable economic predictors and is used by many of Australia’s largest firms, including Parsons Brinkerhoff, SMEC, Hyder, GHD and AECOM.
In the short-term, the Report forecasts a fairly rosy future for the industry.
The backlog of work in engineering construction is set to sustain high levels of activity until 2016 with firms operating in this space expected to experience 22 per cent growth over the next 12 months.
Consult Australia CEO, Megan Motto said this signifies a welcome commitment to infrastructure development in the short-term but warned it wasn’t all good news.
WA EPA approves state's first uranium mine
The Western Australian Environmental Protection Agency (EPA) has announced it has granted approval to Toro Energy to construct the state’s first uranium mine, after the proposal was ‘meticulously examined by the board.’
Yarwun declared significant
The Queensland Coordinator-General has declared the $2.2 billion coal terminal at Yarwun in the Port of Gladstone a ‘significant project’, meaning the project will now undergo an environmental assessment.
AER publishes Victorian business report
The Australian Energy Regulator (AER) has published the 2012 electricity performance report for the Victorian distribution network service providers (DNSPs).
WA approves transmission line
The Western Australian Government approved the construction of a new $443 million transmission line for the state’s Mid-West region.
APPEA to introduce safety system
The Australian Petroleum Production and Exploration Association (APPEA) has announced it will put in place a world-class subsea response solution to mitigate and control any risk of uncontrolled discharges from offshore wells.
Government announces $1 million dairy energy efficiency boost
The Federal Government has announced a $1 million funding boost to assist dairy farmers to lower their energy costs.
Government announces $20 million for SME energy improvement
The Federal Government has announced $20 million in grants to improve the energy efficiency at small and medium businesses and community groups.
Port Bonython hits 1000 milestone
Santos has announced the loading of the 1000th cargo from its Port Bonython liquids processing plant in South Australia.
Tasmanian energy sector reforms announced
The Tasmanian Premier Lara Giddings has released the Government’s blueprint for energy reform, announcing that power retailing will be privatised, but the wholesale electricity market will be kept in public hands, despite a recommendation by the Expert Panel that it be open to competition.
Government seeks comment on building energy efficiency framework
The Federal Government is seeking comments on the Draft National Building Energy Standard-Setting, Assessment and Rating Framework.
Coalworks urges shareholder rejection of takeover bid
The Board of Coalworks has urged the company’s shareholders to reject Whitehaven Coal’s takeover offer, describing the move as ‘inadequate and opportunistic and that it significantly undervalues’ the company.
Geoscience Australia releases gas assessment
Geoscience Australia has released its Australian Gas Resource Assessment 2012, detailing key findings of in the industry and what it anticipates for the industry.
SA releases gas roadmap
The South Australian Government has released a draft roadmap aimed at maximizing the potential of the state’s unconventional gas resources in an environmentally sustainable way.
Victoria moves on regional natural gas strategy
The Victorian Government has announced details of the next phase of the rollout of its $100 million Energy for the Regions program.
Government opens new acreage for exploration
The Federal Government has announced the 2012 Offshore Petroleum Exploration Acreage Release, comprising of 27 areas across nine basins in waters off the coast of Western Australia, the Northern Territory, Victoria, South Australia and Tasmania.