Industry News
Norwest Energy has recently recorded a strong early gas flow during its perforation tests at the Lockyer Deep-1 exploration well.
Two of worlds largest economies have placed strict sanctions on Russia, following its invasion of Ukraine. US president Joe Biden has signed an executive order to ban Russian oil, natural gas, coal and liquids.
The governing body of Australia’s main energy market says WA is more than likely to face a shortage of gas supplies from 2025.
An estimated $23 billion is expected to e projected into the WA oil and gas sector which is leading to predictions of a strong year for the Mid West resource sector- regardless of the presence of Covid-19 at a Yalgoo mine site.
Recently the WA Domestic Gas Alliance commissioned a report that claims the state government should focus on supporting development and ensuring the 15% supply obligation is adhered to by LNG producers.
Commissioned by the Domestic Gas Alliance, the WA Gas Market Strategic Development report, was written by Wood Mackenize in order to provide an independent overview on the evolving dynamics of the WA domestic gas market.
Australia will seek to fill any supply shortfalls or gaps within the European gas market should Russia threaten to hold off supply due to tensions with Ukraine.
A number of speakers have been asked to address the issue of net zero in the lead up to the 2022 Australian Domestic gas Outlook conference.
Woodside Petroleum has moved to further diversify its LNG supply by taking gas from a new producer within the United States.
Strike has begun drilling of the South Erregulla 1 and is said to be drilling ahead in the first hole section with a current depth of 1,045 metres.
Two thirds of WA’s offshore gas projects pay close to no royalties or Petroleum Resources Rent Tax, creating a “gas-fired robbery” in an offshore heist that is cheating Australians out of a much-needed tax windfall.
Beach Energy has recently revealed they have connected the first wells of its offshore Otway Basin campaign and are now operational to develop gas into the east coast market.
LNG and upstream gas investments are side to push up global oil and gas investments by US$26 billion to reach a value of $628 billion in 2022.
Wood Mackenzie, global energy consultancy, has recently released a report highlighting the six trends predicted for the gas and LNG sector in 2022.
European gas storage levels are beginning to recover; however, it is predicted that geopolitical tensions within the region may continue to create price volatility.
China has officially become Australia’s largest gas customer, overtaking Japan. The country imported a total of 32 million tonnes of LNG in 2021 which is a 7.1% increase on the year before.
The day following Energy News finished publications for the year, Shell’s floating LNG project, Prelude, had a fire onboard and as forced into a temporary shutdown.
Quick adaption to market fundamentals has been identified as the key to the success of oil and gas companies into the future.
Shell’s Prelude project has suffered a setback as the floating LNG (FLNG) plant was ordered to halt production last month.
Coogee Chemicals has been given the green light for the $40 million planned expansion at Kemerton.
Australia successfully reclaimed the top spot for the world’s top LNG producer last year, however its ranking remains under threat rivals Qatar and the United States.
Alcoa recently welcomed a majority vote, from workers at the San Ciprian plant in Galicia, backing the proposal to halt output until the end of 2023.
Chemicals manufacturer Coogee plans a $40 million expansion of its chlor-alkali Kemerton plant, to be in line with the size of their Kwinana plant.
Australia’s LNG sector is set to show record exports and earnings, following an increase of 6.5% in volume to 82 million tonnes in 2021-22 and into 2022-23.
This year, as the country battled extreme weather and the ongoing pandemic, Australia set the agenda for its energy future.
Victory Mines is continuing to make a case for possible northern extensions to the gold lode that was previously mined in the old Coogee open pit near Kalgoorlie.
A new Australian Energy Market Operator (AEMO) report has been releases with projections suggesting a finely balanced domestic gas market until 2031.
The strategy to adapt with energy transitioning has been unveiled by Woodside, which includes a $5 billion investment in markets of emerging energies by 2030.
It has been recently noted that WA was the only state in Australia with rising greenhouse gas emissions, up a total of 21 per cent since 2005.
Australia’s Alinta Energy has announced the possibility of building an offshore wind farm valued at A$4 billion to supply Alcoa Inc’s Portland aluminium shelter as well as the east coast’s grid.