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Australian Industrial Energy

Company Summary

Description

Australian Industrial Energy (AIE) plans to develop NSW’s first liquid natural gas (LNG) import terminal at Port Kembla near Wollongong. Once constructed, the Port Kembla Gas Terminal (PKGT) would have the capacity to supply more than 70% of NSW’s current annual gas demand, with first gas scheduled to be available in 2020. The Project will be a new source of competitively priced gas to meet predicted supply shortfalls and help put downward pressure on gas prices.

Website

https://ausindenergy.com/

Operational Regions

  • Australia

Related Entities

Recent news

  • 10/20/2020 - Squadron Energy Acquires... (subscriber access)
  • 8/20/2019 - Port Kembla Terminal... (subscriber access)
  • 8/21/2018 - AIM Signs Deal FSRU... (subscriber access)

Company Transactions

Date: 10/20/2020
Type: Acquisition

BUYERS:
  • Squadron Energy
    • SELLERS:
  • Australian Industrial Energy
  • Jera
  • Marubeni Corporation
    • PROJECTS:
  • Port Kembla Gas Terminal (PKGT)
    • DETAILS:
    NOTES:
    Private firm Squadron Energy, helmed by billionaire Andrew Forrest, has acquired full control of the Port Kembla Gas Terminal. They bought out a 30.1% stake in Australian Industrial Energy from Marubeni and a 19.1% stake from JERA for an undisclosed price.
    REGIONS:
  • Australia