Technical snags and changing markets hamper Australia’s $200 billion LNG boom

Hey, how about some honesty for a change. Some of the Australian projects were casino bets when they took FID. Spending in excess of 50 billion USD on a 16,5 mtpa plant is batshit crazy. Even when the market was better there was no way to recoup this investment. Now they blame the writedowns on COVID. Fine, but those among us who know won’t be fooled. There are a lot of madman projects out there and they need to be cleared of their debt – one way or another. Some are going to lose their shirts.

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