PNG offers an attractive environment for new developments and there are several new opportunities in the project pipeline that the platform is pursuing. Smaller-scale greenfields and brownfields EPC opportunities are emerging in Australia and operators require innovative development solutions, which the platform is well positioned to deliver. Its strong focus on project execution and high-quality project delivery enables it to access scope growth on current projects.
Clough’s successful track record in downstream and petrochemical work will enable it to compete for related opportunities across South East Asia and, in Indonesia, growth opportunities exist in gas/liquids-to-power projects, particularly regasification terminals.
In the USA, the focus on energy security will continue to strengthen the oil and gas shale markets and new exploration successes could present midstream opportunities to compress, process and transport gas from production sites to existing processing and export facilities. In Canada, new project opportunities continue to emerge in LNG facilities and associated infrastructure developments, albeit at much slower rates than initially projected.
Population growth in Nigeria and East Africa is driving expenditure on energy projects, and gas-to-power opportunities in South Africa and Mozambique continue to emerge as demand for energy increases. Europe’s clean energy target is resulting in new markets for large-scale clean energy developments.
Opportunities exist in complementary markets such as Australia’s mining and infrastructure markets and east coast state governments, particularly New South Wales, are developing many large infrastructure projects. Clough is positioned to pursue selected opportunities and has developed partnering strategies to support its delivery.
Internationally, the platform continues to work in collaboration with the Underground Mining platform to pursue brownfields EPC opportunities on the Oyu Tolgoi Expansion Project in Mongolia. These complementary markets will become important contributors to revenue in FY2018, while oil and gas markets remain uncertain.