Gladstone LNG project promises rejuvenation for flood-ravaged Queensland

Australian major Santos sanctioned the $16 billion Gladstone LNG project Thursday, along with project partners Total, Petronas and Kogas.

The GLNG project will develop coal seam gas resources in the southeast of Queensland and transport them 420 kilometers via pipeline to the Gladstone LNG facility on Curtis Island. With two trains, the GLNG project will produce some 7.8 mtpa, and production start-up is slated for 2015.

Notably, the GLNG development will create some 5,000 jobs in Queensland during the construction phase and a permanent 1,000 jobs once the LNG facility comes on stream. The project will create an estimated 1,500 jobs in Queensland in 2011 alone.

This comes as welcome news to the flood-ravaged region, and the government has applauded the GLNG investment in Queensland.

“Proceeding now with projects like this will be a tremendous boost to the Queensland economy as we recover from the devastating impact of the floods,” said Queensland Premier Anna Bligh on the news of the final investment decision in GLNG.

And the Federal Minister for Resources and Energy Martin Ferguson added, "“This project and economic development more generally is important in underpinning the skills, tax revenue, weather and capacity to respond and rebuild in the aftermath of the current flood crisis in Queensland."

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Phaedra Friend Troy is the content director for PennEnergy.com, an all-energy website that provides oil and gas, power and infrastructure news, analysis, reports and more. Sign up for a free daily enewsletter today.