All you need to know about the US$2.5b plans for Gladstone

GLADSTONE Oil Holdings is expected to start construction of the diesel import terminal within the next six months according to Casper Energy chief executive officer Duncan Mackenzie.

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This will be a 75 mega litre diesel import terminal at Fisherman's Landing with the company leasing the land of Gladstone Ports Corporation.

An artist's impression of the diesel import terminal at Fisherman's Landing.
An artist's impression of the diesel import terminal at Fisherman's Landing. Casper Energy

 

He said the relationship with GPC was good and they were an important stakeholder in the company's progress.

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He listed the key impacts of the oil terminal would be:

  • Displacing 10,000-15,000 tonne petroleum vessels from the roads and replacing them with 35,000 tonne vessel cargoes
  • That would result in less trucks driving through the city centre
  • Enhancing physical security of fuel supplies
  • Engaged local consultants for technical and regulatory developments.
  • Up to 180 jobs in construction

Once the oil refinery is up and running the terminal would stop importing diesel and would begin importing crude oil which the refinery would convert to diesel.

The site of the proposed oil refinery, an oil pipeline from the terminal to the site in Targinnie.
The site of the proposed oil refinery, an oil pipeline from the terminal to the site in Targinnie. Casper Energy

 

This would affectively cut out the refineries the company would be importing from until the refinery in Targinnie is built.

Mr Mackenzie said this would allow Casper to have a well drilled logistics system in place by the time the refinery was producing diesel.

He said it showed that Casper was confident it could turn crude oil into diesel at a cheaper price than it cost to import.

In his presentation he had the key impacts of the refinery as:

  • Displace overall shipping on the east coast of Australia
  • No FIFO workforce
  • Local sourcing of goods and services
  • Enhances physical and competitive economic security of fuel supplies
  • Aims to displace trucks from the town centre and eventually adopt rail distribution
  • Engaged local consultants for technical and regulatory developments
  • Delivery program up to six years with Initial Advice Statement lodged with the State Coordinator General imminently

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