AGL flags Vic LNG import delay to FY22

AGL Energy says it will start importing liquefied natural gas into Victoria in the second half of the 2022 financial year, a year later than previously planned.

The energy generator and retailer had already flagged a delay in imports via its proposed Crib Point jetty and confirmed the new timetable on Friday having switched floating storage and regasification units in response to an ongoing environmental review by the Victorian government.

AGL now plans on using the Hoegh Esperanza rather than the Hoegh Giant it proposed in December, but the Esperanza has a later delivery window.

“AGL believes the Esperanza better fits timing and operational requirements arising from the Environment Effects Statement (EES) process currently being undertaken by the Victorian government,” AGL said in a statement on Friday.

AGL expects the environmental review to be completed by late in the next financial year, after which it will make a final investment decision on the project.

At 1040 AEST, AGL shares were 0.37 per cent lower at $20.045, compared to an overall 1.28 per cent decline for the ASX200 energy sector.


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