Business
LNG producers write off $20bn – The Australian
Australia’s LNG sector has blown up more than $20bn in writedowns after French energy giant Total took a $US800m ($1.1bn) hit, sparking concern high construction costs and a lower oil price outlook may derail spending needed for a next wave of investment.
Australias LNG sector has blown up more than $20bn in writedowns after French energy giant Total took a $US800m ($1.1bn) hit, sparking concern high construction costs and a lower oil price outlook may derail spending needed for a next wave of investment.
Total, which owns stakes in Inpex’s $US45bn Ichthys gas plant in Darwin and Santos’s $US18.5bn GLNG export project in Queensland, blamed “giant projects with high construction costs” and lower oil price assumptions for the impairment….
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