WoodMac forecasts Australian LNG investment boom

WoodMac senior analyst Daniel Toleman said after doing everything possible to tighten belts this year, Australian liquefied natural gas (LNG) operators would have to start spending.

At least $14.8 billion worth of LNG projects are on track for final investment decisions next year, according to Wood Mackenzie’s (WoodMac) Australasian upstream 2021 outlook.

With LNG backfill as the focus, there are three upstream FIDs pending, including Mitsui’s Waitsia project, Santos’ Barossa project and Woodside’s Scarborough project, as well as the AIE Port Kembla LNG import terminal, which would supply the east coast market.

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Image: Woodside Energy Ltd