News Post
Northern Territory 350,000 tpy methanol plant planned by Coogee Chemicals
Perth-based West Australian chemical company Coogee has launched a feasibility study into a $500 million (Aus) methanol plant at Darwin Harbor.
The 350,000 tonne per annum methanol plant would be located at Middle Arm industrial precinct, close to Inpex’s Ichthys LNG plant and ConocoPhillips Darwin LNG Plant .
A final investment decision is expected in early 2021, with construction to start soon after, which would enable the plant to be brought on stream in 2024. It is estimated to create around 1000 jobs during construction and 350 direct and indirect jobs on an ongoing basis.
The proposed methanol plant could take advantage of new conventional offshore gas reserves. According to CEO Grant Lukey, Coogee is not considering the potential for using tight shale gas from Beetaloo subbasin south east of Darwin.
Coogee are currently working with the Northern Territory Government's Gas Task Force on options to supply up to 40 TJ's of gas per day. This result arises from NT's five-point gas strategy announced in 2018, which aims by 2030 to turn Northern Territories into a world-class hub for gas production, manufacturing, and services.
"The proposed Methanol Plant will be strategically located in Darwin to take advantage of its abundant gas supply and its proximity to the south east Asia market. The proposed plant will use innovative, low-emission technology", Grant Lukee said.
Coogee owns Australia's only methanol plant in Laverton, Victoria which operated for 22 years before closing in March 2016 due to high east coast gas prices. Other methanol plants are being considered in Australia by a number of firms: two on the West Australian Burrup peninsula, another plant in Darwin, and one offshore gravity structure in the Timor Sea
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