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Darwin Clean Fuels Limited (DCF) is seeking to develop, construct and operate a 100,000 barrels per day (bpd) condensate processing facility to be located in Darwin, Northern Territory, Australia.

This will be the first petroleum refinery of significant size to be built in Australia for over 60 years and the first in Australasia to be utilising entirely condensate as its feedstock. DCF aims to take advantage of the, low sulphur, and high quality condensate feedstock for processing into transport fuels that meet the stringent Australian clean fuel standards to be introduced in 2027. DCF will replace imports of fuel to the Northern Territory and imports of petrol to the Australian east coast markets. Australia has become a net importer of refined fuels, shifting from being a net exporter, through a combination of demand growth and shrinking refining capacity. Refining industry capital expenditure in Australia in recent years has been applied to meet the new clean fuel standards rather than increase refining capacity.

Key Highlights

  • DCF plans to develop, construct and operate a 100,000 barrel per day (bpd) processing plant in Darwin at a cost of up to US$2 Billion to produce high quality transport fuels (gasoline, diesel, jet fuel, LPG) from Condensate, a by-product of natural gas production in NW Shelf and Timor Sea and a high quality refinery feedstock.
  • DCF have long term condensate feedstock supply and product offtake along with shipping services, trade finance, and back office technical and operational support in place.
  • 150ha strategic site available from the NT Gov at Middle Arm, Darwin, next to the ConocoPhillips LNG plant and the proposed US$35 Billion INPEX LNG plant, and with no significant environmental issues.
  • Project Timeline – 18 months project development, 42 months construction.
  • The DCF Darwin project will reduce Australia’s reliance on growing imports of over 600,000bpd of transport fuels by replacing all imports into Darwin and shipping high quality petrol to eastern Australia, as well as exporting blending components to New Zealand, Singapore and US West Coast markets.

DCF offers investors an opportunity to contribute to the development of this new low carbon emission Australian transport fuels plant that will capitalise on the increasing supply of high quality Australian condensate feedstock and re-capture part of the transport fuels market lost to overseas suppliers, with flow-on benefits to the Australian economy. An Information Offering Memorandum is forecast to be available by September 2020 based on the outcome and results from the BFS. Valuations are being undertaken in August for the IM.

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