Australia Pacific LNG welcomed the Queensland Government’s announcement of the Gladstone Foundation trust fund, established to provide social infrastructure facilities and services within the Gladstone region.
Australia Pacific LNG has committed $5 million to the $13.5 million trust fund, with the rest contributed by the other CSG-LNG proponents.
Australia Pacific LNG CEO, Page Maxson , said: “ Through the Gladstone Foundation, the benefits of the CSG-LNG industry will flow into the community and make a significant difference to the development of social infrastructure in and around Gladstone .
“ The Gladstone Foundation is the collaborative result of the Queensland Government, the Gladstone Regional Council and the CSG-LNG proponents, and I am delighted to see the concept translate into a reality today ,” Mr Maxson said.
This commitment is one initiative of Australia Pacific LNG’s ongoing investments in social infrastructure for communities in the Gladstone Region.
“ Australia Pacific LNG’s contribution of $5 million is one element of our $25 million social investment in Gladstone, as outlined in our Social Impact Management Plan, with areas of focus including education, health, business development and infrastructure ,” Mr Maxson said.
The funding projects will be selected and administered by the Gladstone Foundation’s Board of Advice. The specific arrangements of the fund are still being finalised.
Australia Pacific LNG is a joint venture project between Origin, ConocoPhillips and Sinopec that includes development of existing coal seam gas fields in the Surat and Bowen basins and construction of a gas transmission pipeline from the gas fields to an LNG facility to be developed on Curtis Island in Gladstone.
[mappress] LNG World News Staff, December 06, 2011