What you need to know about the latest boat sale
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The latest news on the sale of the Australian Government’s biggest asset is in, but it’s still not over yet.
The Federal Government is seeking bids from private developers for the Government-owned LNP-run Gladstone LNG terminal.
The LNP Government wants to sell the terminal to a private operator, but the Government is also trying to negotiate a long-term lease on the site.
The deal is expected to be signed this week.
The Government has already said it is seeking $2.7 billion in revenue for the operation, with the final cost likely to be higher.
But the Government has also suggested the LNP may be willing to pay $3.5 billion to acquire the property, if the Government were to receive a greater share of the terminal’s revenue.
But with more than 20 million hectares of prime farmland in NSW under the LNG operation, the Government says the LNZ is the only viable option.
“If it was to sell, we would expect that to be the case,” Mr Turnbull said.
“We are going to find a partner that has the resources, the capability and the appetite to build it, so that’s our primary focus at the moment.”LNG exports have been booming in recent years.
It is expected the terminal will provide a new export market for LNP Premier Gladstone.
Mr Turnbull said he was hopeful the terminal would attract international investors.
“I think we are very hopeful about the potential of this particular terminal,” he said.
The ABC understands a number of companies have applied for the lease.
Topics:government-and-politics,industry,business-economics-and.financial-trends,lifestyle-and_lessthanet,government-today,prince-andrew-brown,nsw,sydney-2000,brisbane-4000,newcastle-2300First posted May 02, 2019 17:31:13Contact Nick FarrarMore stories from New South Wales
The latest news on the sale of the Australian Government’s biggest asset is in, but it’s still not over yet.The…
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