Beach and its 50 per cent partner Mitsui can only sell gas to the more lucrative international market because in 2020 WA premier Mark McGowan granted an exemption from the state’s ban on the export of onshore gas.
The move was controversial as Stokes’ Seven Group Holdings controls the state’s only newspaper as well as owning 30 per cent of Beach.
Engelbrecht’s assurance that there will be enough gas to supply WA comes a month after the Australian Energy Market Operator predicted the state most reliant on gas would face a significant shortage from 2030.
Progress on the construction of the 250 terajoules of gas a day stage two of the Waitsia field was hit when principal contractor Clough entered administration in December.
Engelbrecht said the joint venture was close to securing a contractor to complete the project and the impact on the schedule and budget would be revealed when the new contractor was announced.
Beach expected the project to cost up to $800 million and begin export of liquified natural gas in the first half of 2023 when it was approved two years ago.
Italian Webuild has agreed to take over Clough’s interest in the Snowy 2.0 and Inland Rail projects and has completed negotiations with administrators Deloitte on what other projects it will pick up,but these have not been revealed.