Australia’s largest foreign investor Chevron told the Australian Financial Review this week that future multi-billion dollar expansions of two LNG projects in Western Australia hinge on bringing about a structural change to Australia’s cost base.
Managing Director of Chevron Australia Pty Ltd, Roy Krzywosinski warned Australia has a two-year window to get policy settings right or risk missing out to overseas rivals for up to $150 billion of pending LNG investment.
“Irrespective of who forms the next government, securing future energy investment will require a recalibration of government policy,” Mr Krzywosinski told the AFR.