The company now expects first gas by the end of the year, an ill-timed delay as Australia faces a gas shortage across the east coast this year.
Beach Energy is unlikely to produce liquefied natural gas from its Waitsia gas project before 2024, as the oil and gas company said the cost of the development will increase by $50 million following the collapse of Clough.
But the company on Monday said it now expected first gas by the end of 2023, threatening Beach Energy’s original timetable. “The schedule was slightly later with first gas... at the December quarter of 2023 at the earliest. We had some volumes in the half but have deferred the ramp-up completely to early calendar year 2024 given we still have lingering concern around schedule in a difficult environment for project execution, Citi said.Beach also confirmed higher costs from the project.
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