The New South Wales government has approved plans for the state’s first liquified natural gas (LNG) terminal.

The $250 million gas import terminal will be built in Port Kembla and is expected to meet the state’s gas needs.

One of the joint-venture partners Squadron Energy CEO Stuart Johnston tells Ross Greenwood imported gas is required because Australian local supply basins are getting old.

“There is a natural decline in the availability of gas from those fields.

“All gas is good gas.

“It will come from internationally, where we can source the cheapest possible gas.”

Click PLAY to hear the full interview