Australian LNG under threat from East African competitors: Ernst & Young

The Queensland Curtis LNG Project is one of the Australian LNG projects that has recently experienced cost overruns.

The Queensland Curtis LNG Project is one of the Australian LNG projects that has recently experienced cost overruns.

A report released by Ernst & Young has warned that Australia’s LNG projects may be threatened by a string of recent gas discoveries in East Africa.

Ernst & Young’s Quarterly Oil and Gas Outlook stated that a new LNG frontier is emerging in East Africa after a number of recent gas discoveries in Mozambique and Tanzania. Although only initial estimates of reserves have been announced, there is believed to be sufficient gas in place to support several large-scale LNG projects.

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