The Australian energy group Squadron Energy has become 100% owner of Australian Industrial Energy (AIE), which develops the Port Kembla LNG import project in New South Wales (Australia). Squadron Energy, which already held 50% in the project, has acquired the stakes of its partners, namely JERA (19.9%) and Marubeni (30.1%).
In April 2020, the government of New South Wales approved plans by Australian Industrial Energy (AIE) to raise the capacity of its proposed Port Kembla LNG import terminal to 100 PJ/year (around 2.7 bcm/year or 2 Mt/year). AIE has reached an agreement with Höegh LNG to use the Höegh Galleon FSRU. AIE will now focus on securing customers for its AUD250m (US$159m) project and could make a final investment decision on the project as soon as 2020, paving the way for a terminal commissioning in 2022. The project is in line with the NSW's plans to add 70 PJ (around 2 bcm) of gas supply into the energy markets by 2022, from the Narrabri coal seam gas project or from LNG imports.