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Action should be taken to fast-track the commencement of the Port Kembla Energy Terminal when the nation's energy ministers meet today in Canberra, the Illawarra's peak business body said.
Squadron Energy has said construction its wharf infrastructure at Port Kembla was 80 per cent complete, and would be available to bring gas onshore next year.
It had planned to commence operations at the end of the year.
Business Illawarra executive director Adam Zarth said that with massive increases in gas prices creating distress for local businesses, the terminal should be able to commence as soon as possible.
"Our last business conditions survey, undertaken before the worst gas price rises were even upon us, highlighted that businesses were seeing energy price rises of nearly 20 percent which is simply unsustainable - and the situation has continued to worsen," he said.
"Here at Port Kembla, we have the nation's first Liquified Natural Gas terminal nearing completion which could supply up to 75 percent of the gas needs of NSW, or 30 percent of the needs of both NSW and Victoria."
"It makes absolute sense for governments to act in order to get the terminal operating as soon as possible, and [Friday's] energy minister's meeting is the perfect opportunity to do this."
The Mercury sought comment from NSW Energy Minister Matt Kean. A response came from a spokesman for the Department of Planning and Environment, saying Squadron should be able to meet its minimum supply requirements already.
"Energy Ministers will be briefed by market bodies on the East Coast Gas Market dynamics at their meeting on Friday 12 August, including options that may need to be explored," the spokesman said.
"There are a range of current gas supply projects that can support future demand in NSW and the broader east coast market.
"Given the strong interest from commercial and industrial customers for stable, affordable gas supplies there would appear to be significant existing market opportunities for Squadron Energy to meet its minimum supply commitments to proceed with its Port Kembla project."
A spokesman for port owner NSW Ports said the company supported Squadron's efforts.
"NSW Ports supports Squadron Energy's efforts to commence operations at Port Kembla of Australia's first liquified natural gas terminal as soon as practicable, to meet a vital energy need for NSW and to provide jobs and economic benefits for the Illawarra region and the state," he said.
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