PCG pengana capital group limited

as woodside is going to start its pluto projec, page-2

  1. 1,070 Posts.
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    Agreed - i'd rate PCG as a near certainty to get whatever scaffolding work is required for the Pluto development, given that PCG did a lion's share of the work on the NWS trains.

    Although how much work stems from the Pluto development for PCG is not yet certain. The work PCG gets is primarily tied to how big, and how many, LNG trains are to be constructed. Based on yesterday's announcement, Pluto provides the following opportunities for PCG:

    1) Pluto Train 1 - this is big (processing capacity is 4.8 mtpa means it's one of the biggest LNG trains in the world). This is the project which was approved yesterday and work will be starting soon, so PCG could even get work from Pluto 1 as early as this financial year. They also have to build an offshore platform which has some scaffolding requirements;
    2) Burrup Park expansion - Woodside want to build processing facilities (trains) here with capacity of 12 mtpa. They have to get environmental approval for this, which is expected in September. If they get approval here, they would build another 2 LNG trains, and these trains would obviously be huge. As well as the 2 trains required, if they get environmental approval for the Burrup Park expansion, WPL are going to build another 4mtpa domestic gas processing facility. The sum of work involved in the Burrup Park expansion available to PCG is therefore huge - 2 huge LNG trains plus another processing facility.

    So yes, enormous opportunities for work here. What we've really got to hope for as PCG shareholders is that the Burrup Park expansion gets the environmental approval, as the Burrup Park expansion provides the biggest opportunities.

    Cheers.
 
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