LNG record caps strong year for Gladstone port

Gladstone saw a record 23Mt of LNG leave its shore last financial year, helping the Gladstone Ports Corporation achieve a net profit after tax of $93.46 million. In total, Gladstone Ports Corporation’s three ports in Gladstone, Rockhampton and Bundaberg recorded a throughput of 123.1Mt - primarily led by coal, LNG, aluminium and associated products. Gladstone facilities accounted for 122.6Mt of that trade and the coal industry accounted for 57 per cent of Gladstone Port Corporation's total throughput for the year. However the total coal exports of 70.1Mt last financial year marked a 2.2 per cent drop on 2019/20 exports and were 6.4 per cent under budget. Gladstone saw 349 LNG vessel shipments in 2020/21, a 4.05 per cent increase on the previous year. Outgoing chair Peter Corones described the 2020/21 results as great news for Queensland — in terms of jobs, economic growth and international trade. Peter Corones , GPC "We are proud to report the total revenue for GPC during the financial year was $516 million — a testament to GPC’s strategic response to pandemic challenges, the strong relationships with its customers, its resilience and adaptability, and its multi-commodity trade base," he said. "GPC delivered 123.1 million tonnes (Mt) of trade across its three port precincts, with Liquefied Natural Gas (LNG) exports realising a new annual export record. "These strong LNG results were driven by increased demand for Australian LNG and global trade recovering after a COVID-19-led downturn. "Our LNG trade performance demonstrates new energies and diversification are leading the way in Queensland." In the organisation's annual report, acting chief executive officer Paul Heagney highlighted Gladstone Ports Corporation’s work with Gladstone Regional Council, the State Government, and other key stakeholdersto explore hydrogen opportunities for the region. "Located in the centre of the Fitzroy Renewable Energy Zone, we recognise GPC plays a key role in readying our region for the major over-size over-mass freight that will be required to enable hydrogen and the State Government’s Queensland Renewable Energy Target (QRET) of 50 per cent by 2030" he said. "Ultimately, the Port of Gladstone will play a critical role in enabling the export of hydrogen and ammonia. This has the potential to position Australia as a leader in the global market and provide a critical variable load to underpin the scale of renewable power generation necessary for security of supply. "Our team is providing regional leadership as part of the Central Queensland Hydrogen Technology Cluster that was recently incorporated into the national network of National Energy Resources Australia clusters."

LNG record caps strong year for Gladstone port

Industry Queensland

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