Latest news with #SquadronEnergy
ABC News
a day ago
- Business
- ABC News
BlueScope warns soaring energy costs threaten Australian manufacturing as profit drops 90pc
BlueScope has sounded the alarm over Australia's energy crisis, warning that unsustainably high gas prices are pushing domestic manufacturing to a "tipping point". The steelmaker has reported a full year profit of $84 million, a 90 per cent drop from the $721 million reported a year ago. Speaking after the company's AGM, BlueScope CEO Mark Vassella said energy costs in Australia are now three to four times higher than in the US and risked undermining the country's Future Made in Australia vision. Mr Vassella said BlueScope had submitted a detailed response to the federal government's Gas Market Review including suggested immediate and long-term changes. "LNG spot cargos going offshore should come back to the domestic market, exporters not buying domestic gas and re-exporting, and then longer term we need structural reform," he said. BlueScope's neighbour Squadron Energy is planning to impart gas through its Port Kembla Energy Terminal, but Mr Vasella ridiculed the idea of Australia needing to import gas. "In what world does exporting LNG in massive quantities only to reimport to supply a shorted domestic market make any sense?" he said. Mr Vassella said Australia still needed more reliable and affordable renewable energy after the last remaining proponent of the proposed Illawarra offshore wind project abandoned it this month amid a global investor retreat. BlueScope had previously lodged a submission in support of the project. "We need more energy, we need it to be renewable, we need it to be reliable, we need it to be affordable," Mr Vassella said. "And we were supportive of the wind industry. Our products go into the wind farm industry." He acknowledged the challenges facing developers but stressed that all energy projects come with a cost, and even so should be judged on whether they represent the "least-cost option". The sharp downturn in profits was mainly due to a $439 million write-down in its US coated products business. CEO Mark Vassella described tariffs as a "moving feast" for the steel industry. Mr Vassella said a recently proposed 50 per cent tariff on Brazilian pig iron, which was later reversed, highlighted the volatility of trade policy. He said while some tariffs negatively affected Australian exports, BlueScope benefited from its multi-domestic strategy, particularly in North America, where local production shields it from price swings. "There's a lot of movement, lots of volatility and variability," he said. While energy costs dominated the national conversation, BlueScope was also eyeing opportunities closer to home, including the future of the Whyalla Steelworks. Mr Vassella expressed cautious excitement about the steelmaker's offer to step in and support the steelworks. BlueScope has assembled a consortium with global steelmakers including Nippon Steel, JSW Steel, and POSCO to bid for the facility. The consortium aims to transform Whyalla into a hub for low-emissions steel production, aligning with Australia's broader industrial strategy "This is a wicked problem, and one we are not [yet] committed to doing anything at all," he said. "We've got optionality, we've got the right partners. "There's a bunch of work to determine what future or structure steelmaking might look like in Whyalla."
The Advertiser
07-08-2025
- Business
- The Advertiser
Climate activists to blockade state's largest renewable energy gateway
The Port of Newcastle has taken delivery of the first of 30,000 wind turbine components that will arrive in the port over the next decade. The components, ultimately destined for Squadron Energy's Uungula Wind Farm, arrived on the Guang Fu cargo ship from China earlier this week. They will be stored at the newly created 52-hectare Newcastle Logistics Precinct located on land at the former BHP Steelworks' Intertrade Site. "This first consignment not only highlights the port's unrivalled capability to manage large-scale renewable energy projects but also demonstrates our commitment to advancing NSW's clean energy transformation," Port of Newcastle chief executive Criag Carmody said. "With major projects like Uungula Wind Farm underway, the Port is reaffirming its central role as the state's gateway for renewable energy components, from wind to solar and battery installations." Recent analysis shows that 86 per cent of wind farm Environmental Impact Statements in NSW have named Port of Newcastle as the potential entry point for their components. Additionally, 77 per cent of all renewable energy projects across the state, including batteries and solar, have specified the as a gateway, making it a vital link in the supply chain for the state's decarbonisation efforts through the 2030s. "Port of Newcastle's investment in specialised on-site storage infrastructure means that large wind turbine blades, towers, and drive trains can be efficiently received, securely stored, and dispatched to projects statewide, minimising double handling and reducing unnecessary transport in regional communities," Mr Carmody said. Since 2020, Port of Newcastle has handled components destined for projects in Yass, Boorowa, and the Southern Tablelands, as well as managing cargo, such as spare blades, bound for wind farms across Australia. Located 14 kilometres east of Wellington, NSW, Uungula Wind Farm will feature 69 turbines and generate enough clean energy to power the equivalent of more than 220,000 homes, avoiding over 560,000 tonnes of carbon emissions each year once complete. Squadron Energy executive general manager, development and delivery, Tony Clark, said the components would be transferred to the wind farm site later in the year. "This is a big milestone for the project, as we prepare the site for turbine installation," Mr Clark said. "Port of Newcastle's state-of-the-art storage facilities mean our components will be well looked after until we're ready for them to make the journey from Newcastle to the site. "We're powering through work on site and can't wait to start erecting the first turbine early next year, getting one step closer to generating clean energy through our 414 megawatt project." The Port of Newcastle has taken delivery of the first of 30,000 wind turbine components that will arrive in the port over the next decade. The components, ultimately destined for Squadron Energy's Uungula Wind Farm, arrived on the Guang Fu cargo ship from China earlier this week. They will be stored at the newly created 52-hectare Newcastle Logistics Precinct located on land at the former BHP Steelworks' Intertrade Site. "This first consignment not only highlights the port's unrivalled capability to manage large-scale renewable energy projects but also demonstrates our commitment to advancing NSW's clean energy transformation," Port of Newcastle chief executive Criag Carmody said. "With major projects like Uungula Wind Farm underway, the Port is reaffirming its central role as the state's gateway for renewable energy components, from wind to solar and battery installations." Recent analysis shows that 86 per cent of wind farm Environmental Impact Statements in NSW have named Port of Newcastle as the potential entry point for their components. Additionally, 77 per cent of all renewable energy projects across the state, including batteries and solar, have specified the as a gateway, making it a vital link in the supply chain for the state's decarbonisation efforts through the 2030s. "Port of Newcastle's investment in specialised on-site storage infrastructure means that large wind turbine blades, towers, and drive trains can be efficiently received, securely stored, and dispatched to projects statewide, minimising double handling and reducing unnecessary transport in regional communities," Mr Carmody said. Since 2020, Port of Newcastle has handled components destined for projects in Yass, Boorowa, and the Southern Tablelands, as well as managing cargo, such as spare blades, bound for wind farms across Australia. Located 14 kilometres east of Wellington, NSW, Uungula Wind Farm will feature 69 turbines and generate enough clean energy to power the equivalent of more than 220,000 homes, avoiding over 560,000 tonnes of carbon emissions each year once complete. Squadron Energy executive general manager, development and delivery, Tony Clark, said the components would be transferred to the wind farm site later in the year. "This is a big milestone for the project, as we prepare the site for turbine installation," Mr Clark said. "Port of Newcastle's state-of-the-art storage facilities mean our components will be well looked after until we're ready for them to make the journey from Newcastle to the site. "We're powering through work on site and can't wait to start erecting the first turbine early next year, getting one step closer to generating clean energy through our 414 megawatt project." The Port of Newcastle has taken delivery of the first of 30,000 wind turbine components that will arrive in the port over the next decade. The components, ultimately destined for Squadron Energy's Uungula Wind Farm, arrived on the Guang Fu cargo ship from China earlier this week. They will be stored at the newly created 52-hectare Newcastle Logistics Precinct located on land at the former BHP Steelworks' Intertrade Site. "This first consignment not only highlights the port's unrivalled capability to manage large-scale renewable energy projects but also demonstrates our commitment to advancing NSW's clean energy transformation," Port of Newcastle chief executive Criag Carmody said. "With major projects like Uungula Wind Farm underway, the Port is reaffirming its central role as the state's gateway for renewable energy components, from wind to solar and battery installations." Recent analysis shows that 86 per cent of wind farm Environmental Impact Statements in NSW have named Port of Newcastle as the potential entry point for their components. Additionally, 77 per cent of all renewable energy projects across the state, including batteries and solar, have specified the as a gateway, making it a vital link in the supply chain for the state's decarbonisation efforts through the 2030s. "Port of Newcastle's investment in specialised on-site storage infrastructure means that large wind turbine blades, towers, and drive trains can be efficiently received, securely stored, and dispatched to projects statewide, minimising double handling and reducing unnecessary transport in regional communities," Mr Carmody said. Since 2020, Port of Newcastle has handled components destined for projects in Yass, Boorowa, and the Southern Tablelands, as well as managing cargo, such as spare blades, bound for wind farms across Australia. Located 14 kilometres east of Wellington, NSW, Uungula Wind Farm will feature 69 turbines and generate enough clean energy to power the equivalent of more than 220,000 homes, avoiding over 560,000 tonnes of carbon emissions each year once complete. Squadron Energy executive general manager, development and delivery, Tony Clark, said the components would be transferred to the wind farm site later in the year. "This is a big milestone for the project, as we prepare the site for turbine installation," Mr Clark said. "Port of Newcastle's state-of-the-art storage facilities mean our components will be well looked after until we're ready for them to make the journey from Newcastle to the site. "We're powering through work on site and can't wait to start erecting the first turbine early next year, getting one step closer to generating clean energy through our 414 megawatt project." The Port of Newcastle has taken delivery of the first of 30,000 wind turbine components that will arrive in the port over the next decade. The components, ultimately destined for Squadron Energy's Uungula Wind Farm, arrived on the Guang Fu cargo ship from China earlier this week. They will be stored at the newly created 52-hectare Newcastle Logistics Precinct located on land at the former BHP Steelworks' Intertrade Site. "This first consignment not only highlights the port's unrivalled capability to manage large-scale renewable energy projects but also demonstrates our commitment to advancing NSW's clean energy transformation," Port of Newcastle chief executive Criag Carmody said. "With major projects like Uungula Wind Farm underway, the Port is reaffirming its central role as the state's gateway for renewable energy components, from wind to solar and battery installations." Recent analysis shows that 86 per cent of wind farm Environmental Impact Statements in NSW have named Port of Newcastle as the potential entry point for their components. Additionally, 77 per cent of all renewable energy projects across the state, including batteries and solar, have specified the as a gateway, making it a vital link in the supply chain for the state's decarbonisation efforts through the 2030s. "Port of Newcastle's investment in specialised on-site storage infrastructure means that large wind turbine blades, towers, and drive trains can be efficiently received, securely stored, and dispatched to projects statewide, minimising double handling and reducing unnecessary transport in regional communities," Mr Carmody said. Since 2020, Port of Newcastle has handled components destined for projects in Yass, Boorowa, and the Southern Tablelands, as well as managing cargo, such as spare blades, bound for wind farms across Australia. Located 14 kilometres east of Wellington, NSW, Uungula Wind Farm will feature 69 turbines and generate enough clean energy to power the equivalent of more than 220,000 homes, avoiding over 560,000 tonnes of carbon emissions each year once complete. Squadron Energy executive general manager, development and delivery, Tony Clark, said the components would be transferred to the wind farm site later in the year. "This is a big milestone for the project, as we prepare the site for turbine installation," Mr Clark said. "Port of Newcastle's state-of-the-art storage facilities mean our components will be well looked after until we're ready for them to make the journey from Newcastle to the site. "We're powering through work on site and can't wait to start erecting the first turbine early next year, getting one step closer to generating clean energy through our 414 megawatt project."
ABC News
02-07-2025
- General
- ABC News
Worker dies at Clarke Creek Wind Farm in central Queensland
A worker has died at the Clarke Creek Wind Farm in central Queensland. Squadron Energy said work on the site had been suspended. "Safety is our top priority across all our sites and the wellbeing of everyone on the Clarke Creek Wind Farm site is our immediate focus," it said. "The family has been notified and is being supported. "We would like to acknowledge and thank the colleagues and first responders who responded to this tragedy."
Reuters
12-06-2025
- Business
- Reuters
Australia could import LNG from 2027 with four projects underway along east coast
SINGAPORE, June 12 (Reuters) - Australia could start imports of liquefied natural gas (LNG) from 2027, based on developments at import terminal projects along its east coast, to address potential supply shortages. The country's competition regulator has said that the east coast may face a longer-term shortfall amid higher demand and structural decline. Below is a list of four proposed projects being advanced on the east coast, consisting of floating storage and regasification units (FSRUs), which will send gas via pipelines back to the mainland for consumption. OPERATOR: Squadron Energy LOCATION: New South Wales LNG IMPORT CAPACITY: 2 million tons a year OPERATIONAL DATE: 2027 The Port Kembla Energy Terminal is already commissioned and plans to import around 2 million metric tons of LNG yearly. The project's commercial operations date has been delayed to 2027 from 2026 after operator Squadron Energy extended the sub-charter of the FSRU, Hoegh Galleon, to Egypt's EGAS until end-2026, according to a company spokesperson. The terminal is already connected to gas and electricity distributor Jemena's Eastern Gas Pipeline, according to the Australian Energy Market Operator. OPERATOR: Atlantic, Gulf and Pacific (AG&P) LNG LOCATION: Port Adelaide LNG IMPORT CAPACITY: 2 million tons a year OPERATIONAL DATE: 2027 Singapore-based Atlantic, Gulf and Pacific (AG&P) LNG has agreed to acquire Australian energy infrastructure developer Venice Energy and will develop its Outer Harbor import terminal in South Australia. The proposed terminal, pending a final investment decision, will be built by converting a 145,000 cubic metre LNG carrier to an FSRU. Construction is expected to be completed by the end of 2026, with the first gas to flow into the system by mid-2027, Venice Energy said on its website. OPERATOR: Viva Energy Group ( opens new tab LOCATION: Geelong, Victoria LNG IMPORT CAPACITY: 2 million tons a year OPERATIONAL DATE: 2028 The Australian government has cleared the construction of Viva Energy Group's ( opens new tab LNG terminal in Geelong, the company said on May 30. The terminal will use an FSRU with a 7 kilometre (4.35 miles) pipeline connecting it to Victoria, with a capacity of 160 petajoules or about 2.9 million tonnes per year. First gas deliveries are expected in 2028. OPERATOR: Vopak ( opens new tab LOCATION: Port Phillip Bay, Victoria LNG IMPORT CAPACITY: Up to 50 cargoes* a year OPERATIONAL DATE: 2029 Vopak has started talks with gas suppliers and offtakers for its LNG import terminal project in Victoria and expects to make a final investment decision in 2026-2027. It aims to start terminal operations in 2029. Vopak is seeking an FSRU with a capacity of 170,000 cubic metres to regasify LNG, and gas would be transported to Victoria through a 19 km underwater pipeline. *One LNG cargo is roughly 70,000 metric tons
ABC News
26-05-2025
- Business
- ABC News
Port Kembla Energy Terminal delayed until 2027 amid shifting gas demand
A New South Wales gas terminal is built, connected and ready to go but will not begin operations until at least 2027 as Squadron Energy delays the start amid shifting demand forecasts. It comes even as energy authorities warn of looming east coast gas shortfalls. The Port Kembla Energy Terminal — which has been completed and tied into the Eastern Gas Pipeline — will stay in "care and maintenance" mode until mid-2027, after a reassessment of customer needs and updated projections from the Australian Energy Market Operator (AEMO). Squadron Energy executive general manager of operations, Stuart Davis, said the revised timeline reflected market conditions. He said his company received a request from Egyptian state-owned company Egas for an extension as it was going through a sales process for the terminal. Squadron last year announced it had secured LNG carrier vessel the Hoegh Galleon, a floating storage and regasification unit (FSRU) which could receive domestic or imported gas. Mr Davis said the site would remain in "care and maintenance to ensure that when the Galleon turns up it is ready to go". The company originally forecast it would start operating in 2026. In March, AEMO's 2025 Gas Statement of Opportunities identified peak-day shortfall risks in southern states from 2028 — a shift from previous forecasts that had shortfalls arriving earlier. However, the report still warned of deepening supply gaps from 2029 onwards, calling for "structural" investment in new supply, pipelines, or storage to avoid market imbalances. The Port Kembla terminal was listed in AEMO's report as a future supply option capable of delivering up to 500 terajoules per day — about 130 petajoules a year — from 2026. But it was not included in the formal modelling because it was considered a "proposed" project. An AEMO spokesperson said it was not advanced to be included in the modelling as a committed or anticipated project. Jemena, which owns and operates the Eastern Gas Pipeline linking Victoria and New South Wales, said the delay would not impact its work to reconfigure the pipeline for bi-directional flow — allowing gas to move south to Melbourne. Squadron said its later start date did not mean it would miss the market window. "We are in deep commercial discussions with a lot of very large customers to take the offtake and we're confident from 2027 on we will be able to sell the capacity of the facility," Mr Davis said. He also said the delay was unlikely to benefit rival projects such as Santos' Narrabri gas field or Queensland pipeline expansions. "Ultimately there are lots of projects vying to get financial investment decisions," he said. "We are the only solution that has gone through FID [Financial Investment Decision], we've finished construction and commissioning. Analysis from the Australia Institute shows about 80 per cent of Australia's gas is exported as LNG. Independent Senator David Pocock has been critical of the policy settings. "We don't have a gas supply shortage — we have a gas export problem," he said in March. Mr Davis said the Port Kembla terminal, once operational, could help rebalance supply. "There are capacity constraints between northern Queensland and the NSW–Victoria market," he said. "You can't get much gas from the Northern Territory to the east coast, and you can't get any from WA — so Port Kembla Energy Terminal is a fantastic asset to facilitate those flows of Australian LNG." A spokesperson for Energy Minister Chris Bowen said the federal government was made aware of the delay in March. "The Albanese government has acted to secure gas supply out until 2029 — ensuring Australian homes and businesses have affordable supply when and where they need it," the said.
