“We plan on making considerable financial investment in the Port of Darwin,” he told Gas Today.
“Given the scope of development opportunities in the Territory, we hope to invest a lot more.”
Under the partnership, Landbridge will contribute upfront cash proceeds of AU$506 million to the NT Government, along with a share of future revenue where it is better than expected in terms of trade performance.
Landbridge’s initial investment will see AU$35 million go towards port infrastructure and development over the first five years, with the first project to commence in early 2016.
Landbridge also projects in excess of AU$200 million of capital expenditure over the next 25 years, with a “stable and competitive” pricing regime for port services involving no more than consumer price indexed (CPI) pricing adjustments for the use of current port facilities.
In order to ensure fair price and access arrangements for port users, the NT Government has also established a statutory price monitoring and access regime.
DARWIN LNG AND INPEX: ESTABLISHED INVESTMENTS
ConocoPhillips’ Darwin LNG Project has been exporting LNG from Wickham Point in Darwin Harbour since February 2006 and as such, the gas industry has been a major presence in the area for the past decade.