Half a billion in royalties to come from QLD gas

The Queensland government expects to receive more than half a billion in LNG royalties by 2018-19, according to a report from EnergyQuest.

The report suggests that Australia’s east coast gas market of one of only a few in the world that are not running at substantial over-capacity.

The QGC-operated QCLNG plant on Curtis Island has shipped approximately 2.5 million tonnes of liquefied gas since the start of production in January this year.

The Santos-owned GLNG plant is getting closer to completion, having announced first gas into Train 1 in August.

Santos has pledged to support the campaign against global warming, with CEO David Knox joining AGL, BHP and other companies to support the Australian government at the Paris climate change negotiations in December.

“We support Australia’s bipartisan commitment to limit global warming to less than two degrees Celsius above pre-industrial levels, alongside other nations within an international agreement,” Knox said.

“Australia can play its fair part in these global efforts. Early global agreement on the steps to achieve this goal will allow for a responsible transition to decarbonised and sustainable economic development.”

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