NSW Government support a boost for proposed Newcastle gas import terminal
Port of Newcastle welcomed New South Wales Government support for a proposed liquefied natural gas (LNG) import terminal at the Port.
The Newcastle GasDock project - with an estimated direct onshore investment of up to AUD$250M at the Port - has received Critical State Significant Infrastructure (CSSI) status from NSW Minister for Planning and Public Spaces, the Hon Rob Stokes MP.
The announcement by Acting Premier John Barilaro and Mr Stokes recognises the need to significantly increase local gas supply, promote competition between suppliers and put downward pressure on the State's gas prices.
Port of Newcastle CEO Craig Carmody congratulated Minister Stokes and the Berejiklian Government on their support for regional economic development.
The project - proposed by South Korean group EPIK - involves the use of an LNG Floating Storage and Regasification Unit (FSRU), a vessel designed to safely store the liquefied product and then convert it into a useable gas for industrial, commercial and residential customers in NSW.
The 170,000m3 class FSRU will connect to a new jetty planned to be built on port land at Kooragang Island, enabling a connection to the existing East Coast natural gas network.