Gladstone Ports Corporation has concluded Port Services Agreements (PSAs) with their LNG exporters, paving the way for a ramp up of LNG shipments from Curtis Island off Central Queensland.
QLD Treasurer, Curtis Pitt, said PSAs had been negotiated with Queensland Curtis LNG, Australian Pacific LNG and Gladstone LNG.
“These agreements are an important milestone in the growth of Queensland’s LNG export industry,” he said.
“They pave the way for a significant expansion in Queensland’s LNG exports from the Port of Gladstone.
“Queensland’s LNG industry is ramping up, having already exported $1.14 billion worth of gas from January to July.
“Exports are projected to hit $15 billion by 2016-17, earning the state valuable export dollars and annual royalties while supporting thousands of jobs.
“Labor’s facilitation of the $60 billion LNG industry in Queensland is now paying dividends for the State, with increasing shipments of liquefied natural gas set to contribute to Queensland’s projected export growth.”
Mr Pitt said the PSAs provided a contractual framework for allocating port capacity and charging for access to the Port of Gladstone’s main shipping channels and other supporting infrastructure.
“Given the projected growth in exports and in port and vessel traffic, we need strong port service agreements in place to manage the Port of Gladstone, while protecting the local environment,” he said.
“From 2016, when all three LNG projects are in export phase, there will be enough LNG production to load 10 vessels per month combined.
“We’re planning ahead to manage this growth because the LNG export industry is crucial to the future of the Queensland economy.”
Minister for Ports Mark Bailey said the announcement reaffirmed the importance of quality port facilities to the economic livelihood of Queensland.
“It is Labor that has facilitated this new industry for Queensland that will deliver export dollars and thousands of jobs, and it is Labor who’s committed to keeping our ports in public hands,” he said.