Written by Squadron Energy |
Quotes attributable to Squadron Energy CEO Rob Wheals:
“The latest ACCC gas inquiry report has once again confirmed that the east coast gas supply outlook for 2025 and 2026 is worsening, underlying the urgent need for Squadron Energy’s Port Kembla Energy Terminal to start supplying gas by 2027.
“With significant structural shortfalls still projected from 2028 unless new supply is brought online, the need for a regassification terminal to supply both NSW and Victoria is beyond debate. What’s needed now is action.
“Squadron Energy is targeting operations at Port Kembla in 2027, providing critical supply security for Australian households and industry as shortfalls loom. Critically, Squadron’s regassification terminal will also supply much needed gas for gas powered generation (GPG), providing the firming required for renewable energy – already this winter Victoria has used 83% of its annual GPG forecast in just five days.
“Port Kembla Energy Terminal acts as a virtual pipeline, connecting the east coast of Australia to both domestic and international gas at the most competitive prices. It avoids the delay and cost of new pipelines, instead supplying gas to both NSW and Victoria on demand via Jemena’s reversal of the Eastern Gas Pipeline.
“To ensure the market has access to this supply when it’s needed, we’re calling for a market mechanism that allows the energy market operator to procure LNG as required, preventing price spikes and securing reliable supply. A government partnership to support this will open the market to more gas and greater competition, in the interest of consumers.
“Governments have asked the private sector to respond to clear market signals and deliver the projects needed to keep gas markets well supplied. Squadron Energy’s Port Kembla regassification terminal has completed construction and landside commissioning and stands ready to respond.”
