Update on Crib Point gas import project
AGL Energy Limited (AGL) has today announced that the company expects first gas to be delivered from the proposed AGL Gas Import Jetty at Crib Point in Victoria in the second half of FY22. AGL had previously indicated first gas could potentially be delivered during FY21.
Confirmation of this timetable follows AGL's decision this week to select the Hoegh Esperanza as the floating storage and regasification unit (FSRU) for the Crib Point project, as opposed to the Hoegh Giant as communicated in December 2018.
AGL believes the Esperanza better fits timing and operational requirements arising from the Environment Effects Statement (EES) process currently being undertaken by the Victorian Government. The Hoegh Esperanza has a later delivery window than the Hoegh Giant.
AGL expects the outcome of the EES to occur no earlier than late FY20, subject to and following which AGL expects to reach a final investment decision on the Crib Point project.
AGL is committed to helping shape a sustainable energy future for Australia. We operate the country’s largest electricity generation portfolio, we’re its largest ASX-listed investor in renewable energy, and we have 3.6 million customer accounts. Proudly Australian, with more than 180 years of experience, we have a responsibility to provide sustainable, secure and affordable energy for our customers. Our aim is to prosper in a carbon-constrained world and build customer advocacy as our industry transforms. That’s why we have committed to exiting our coal-fired generation by 2050 and why we will continue to develop innovative solutions for our customers.