AGL pushes back deadline for gas import project to FY22

Company News

by Jessica Amir

AGL Energy Limited (ASX:AGL) announced first gas at the proposed AGL Gas Import Jetty at Crib Point in Victoria will be seen in the second half of FY22, instead of expected first gas delivery in FY21.

It comes as AGL’s decided this week to use a different vessel (floating storage and regasification unit (FSRU)) the Hoegh Esperanza.

In December 2018 AGL advised it planned to use LNG carrier, the Hoegh Giant.

The Hoegh Esperanza has a later delivery window than the Hoegh Giant.

AGL says Esperanza better fits timing and operational requirements from the Victorian Government’s Environment Effects Statement (EES) process currently being undertaken.

AGL expects the Government to give an outcome of the environment effects by no earlier than late FY20.

Shares in AGL (ASX:AGL) closed 0.1 per cent lower at $20.12 yesterday.

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.