There are seven Australian based LNG projects coming on stream over the next five years, which have a combined capacity of 83.2 billion cubic metres (bcm) and account for around 60 per cent of the 138 bcm under construction worldwide. Continue reading
The second wave of four Australian Liquefied Natural Gas projects, worth $100b, is at risk.
Well publicised cost overruns, at the US$52 billion Gorgon LNG venture for example, have scared the industry.
It looks like the moment has finally arrived. The front page of yesterday’s Australian Financial Review was entitled “Resources Boom Falls to Earth”.
As you must well know by now, we have been suggesting investors be wary of mining and mining services companies for over a year and half. Now that the somewhat predictable recession is occurring, most of the commentary centres on the present malaise.