Alcoa has approved US$1.5 million in funding for Equus Energy to advance the second phase of its Western Australia gas project. The funding will support efforts to secure operating, LNG offtake, infrastructure and financing partners as the project moves toward front-end engineering design and a final investment decision.
The two companies signed a binding 10-year gas sales agreement in August, under which Equus will make around 50 terajoules of gas per day available to Alcoa, equivalent to approximately 182 petajoules over the contract term. Stage One pre-FEED work identified a phased development concept leveraging existing infrastructure, including a leased floating production, storage and offloading vessel, third-party pipelines and existing gas processing facilities.
