Australia LNG battles high-cost history
Australia has a reputation of being a high-cost location, having seen 40% in cost overruns for its LNG projects during the previous boom, according to WoodMac. This compares unfavourably against an average of 33% for the global LNG industry
Chevron’s Gorgon LNG and Inpex’s Ichthys gas project saw cost blowouts of over $10bn and while cost-cutting efforts such as moving to more brownfield developments will help, projects still face risks as $50bn worth await FIDs
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