Government to explore LNG
The government is moving a step closer in the exploration for Liquid Natural Gas (LNG) as part of its efforts to cut the country’s energy bill.
State minister in the Energy Ministry Laurence Broderick said negotiations with investors are far advanced.
He said the government’s thrust towards renewal energy would help to reduce the cost of public electricity and help manufactures to produce at a more cost effective rate.
The junior energy minister said the aim is to cut electricity cost by at least 50 per cent.
Mr Broderick believes this will aid in the recovery in the bauxite sector, which listed the cost of electricity as one of the factors that led to the current downturn.
Prime Minister Bruce Golding has said that the government could be pursuing LNG as an alternative to oil, as the country seeks cheaper energy sources.