A major gas import terminal project at the Port of Newcastle said to one day supply up to 80 per cent of NSW's gas needs is no more.
Energy Projects and Infrastructure Korea (EPIK) has declared the $589 million project "economically unfeasible" and ceased development activities in September.
After an inquiry from the Australian Competition and Consumer Commission for its gas inquiry, EPIK said the "volatility of the international LNG market and high LNG benchmark pricing" had "placed a downward pressure on the economics of the project".
