BY IAN CROUCH
NSW is facing a critical gas shortage, with a major supply terminal earmarked for Newcastle axed.
The gas terminal, which had been backed by the state government as critical infrastructure, was expected to supply 80 per cent of the state's gas needs.
It's reported the South Korean backers of the project claim the volatile international gas market has made the project economically unfeasible.
The move to drop the Newcastle terminal also placed pressure on the state government to deliver the stalled Narrabri gas project.
Snowy Hydro's controversial gas-fired power plant at Kurri Kurri may also need to be fast-tracked.
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| Plans for a LNG import terminal in Newcastle have been shelved Picture News Limited |
