Progress and Petronas going ahead with proposed LNG plant


The feasibility study has been completed, and it is now moving into the pre front-end engineering design phase. This phase will nail down the project's scope, as well as the timeline, costs and labour force requirements.
Initially, the plan is to build two liquefaction plants, with the option for a third in the future.
Petronas has applied to takeover Progress, but the acquisition has been blocked by the federal government. Progress says that if the deal is approved, production at the facility will increase 60 per cent from about 3.8 million tonnes a year per plant, to 6 million.
If the project goes ahead, the investment is expected to be between $9 and $11 billion.