Beach achieves first gas from Geographe wells
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.
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.
The company has claimed the wells can effectively double the Otway Gas Pant production capacity, as they have the capability of delivering around 180 terajoules of gas per day (TJ/d).
In order to connect the remaining wells from the campaign the company will be required to demonstrate nameplate production capacity of 205 TJ/d.
“Achieving first gas from these Geographe wells is an important milestone for Beach as it represents the first gas from our first ever offshore drilling campaign,” said Morne Engelbrecht, Beach Energy’s acting chief executive. He went on to say that the remaining well connection is important in moving forwards to delivering the company’s growth targets.
“This represents one of the first key building blocks towards our first production growth target of 28 million barrels of oil equivalent (MMboe) in FY24,” Engelbrecht said.
Oil and gas not going anywhere: Rystad
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.
LNG and upstream gas investments are said to push up global oil and gas investments by US$26 billion to reach a value of $628 billion in 2022.
A report released from Norwegian firm Rystad Energy has outlined Australia as a potential key region of interest as investment growth within the sector is predicted to rise by 33% as the greenfield gas developments begin to come online.
The Middle East is said to join Australia in leading growth with investments forecast to expand by 22%.
A 4% growth in both the oil and gas sectors are predicted in 2022.
Rystad highlights a forecast for upstream and LNG investments to go from $131 billion in 2021 to $149 billion in 2022, which will still fall short of pre-pandemic levels but demonstrates a steady recovery.
The firm also notes some 80 offshore projects globally are reading to be approved in 2022. Those projects total $85 billion worth of value.
“The pervasive spread of the Omicron variant will inevitably lead to restrictions on movement in the first quarter of 2022, capping energy demand and recovery in the major crude-consuming sectors of road transport and aviation. Despite the ongoing disruptions caused by Covid-19, the outlook for the global oil and gas market is promising, “said Rystad head of energy research Audun Marinsen.
WoodMac predicts six global gas trends for 2022
Wood Mackenzie, global energy consultancy, has recently released a report highlighting the six trends predicted for the gas and LNG sector 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.
WoodMac aims to empower its clientele to make strategic decisions, as a trusted source of commercial intelligence for the natural resources sector.
1. Gas prices are forecast to be bumpy, stating the key determinant as Nord Stream 2.
“The commissioning of Nord Stream 2 might well be the only option to refill storage and avoid a repeat of the last year’s winter crisis,” the report reads.
The current levels of exports from Russia and European storage inventories are suggested to reach below 15 billion cubic metres by the end of March, which will be a record low.
2. Oil-indexation levels are expected to rise.
2022 may be a big turning point for LNG oil-indexed contrasts with the potential of reaching 12 per cent on a weighted average basis.
“We expect LNG contracting activity to remain strong in 2022. Chinese buyers are again expected to lead the way and account for most of new long-term contracts signed,” said Vice President Valery Chow.
3. High momentum behind new LNG projects.
There is anticipated to be 79 million tonnes per annum of additional LNG to take final investment decision over the next two years.
4. An industry shift from offsetting carbon emissions to producing material carbon reductions.
5. Global gas demand will remain resilient in the short term.
The role of gas in the current energy transition will experience pressure as prices continue to stay high.
6. The consideration of gas as a transitional investment in the EU taxonomy.
“Gas prices will need to come down to accommodate increased investments in gas use. And investments in gas infrastructure remain firmly outside the scope to classify for green credentials, let alone investments in supply. The road for gas to establish its role in the energy transition globally remains uncertain.”
Global gas crunch zigzags as no end to volatility in sight
European gas storage levels are beginning to recover; however, it is predicted that geopolitical tensions within the region may continue to create price volatility.
European gas storage levels are beginning to recover; however, it is predicted that geopolitical tensions within the region may continue to create price volatility.
An inundation between December and month-to-date in January of more than 10 million tonnes of LNG across Europe has assisted in calming TTF prices down to around US$26 million British thermal units.
“This influx has overshadowed concerns surrounding the reverse flow from Germany to Poland on the Yamal-Europe pipeline for what is now the third week in a row,” said Rystad senior gas market analyst Emily McClain.
Withdrawals from the storage have slowed considerably and now sit at only 2.8% week-on week, the continued increase in wind generation in Germany and the UK may lead to a further easing in gas prices as the market new requires less gas-fired generation.
Bloomberg analyst, Abhishek Rohatgi recently wrote that LNG deliveries to Europe are likely to climb this month, mainly due to the higher netbacks compared to Asia and their current warmer than usual weather.
In December, LNG imports to Northwest Europe and Italy reached 4 million metric tons, which was 5% above BNEF’s forecast published in early December.
Rohatgi did however highlight that increased LNG deliveries are unlikely to resolve the visible tightness within the European market due to the lower-than-expected Russian imports.
“Weather trends in North Asia will play a key role in determining how much LNG Europe can get, as colder temperatures would see more spot cargoes needed in North Asia,” he wrote.
The research firm predicts the Asian markets will remain tepid due to the normal and above-normal temperature forecasts and LNG inventories being full.
“Pollution control measures may also reduce industrial gas demand during the Beijing Winter Olympics, which run from February 4-20,” Rohatgi wrote.
China becomes Australia’s biggest LNG customer
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.
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.
This figure represents approximately one-third of the country’s total LNG export capacity of 80 million tonnes shipped in 2021.
“Growing LNG sales to China reflect the rapid growth in Chinese natural gas demand as the economy has recovered from the pandemic and also the push to reduce air pollution in major cities,” EQ said.
Shell’s Prelude was the only Australian project to not deliver cargo to China last year. The largest suppliers were east coast companies ConocoPhillips, Origin’s Asia Pacific LNG project and Shell’s QCLNG project.
EQ also stated that LNG deliveries to Korea and Taiwan grew, however deliveries to Japan were 9.3% down in 2020 because of the expiration of Japanese contracts within Woodside and Santos projects.
Multiple Resources and Energy Quarterlies have previously flagged China becoming our largest LNG customer, highlighting China’s surge in demand as Japan’s demand adjusts as it looks to meet decarbonisation targets by 2030.
EQ has previously claimed that China is in the process of seeking to diversify its LNG supply as it signs new contracts with Qatar and the United States, unfortunately leaving Australia largely missing out.
2021 is seen to likely be the peak of Australia’s LNG production, due to increasing competition as well as natural decline of the countries gas fields and limited new project developments.
Everything you missed in the break
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.
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. With strict regulations in place for Shell to meet it is now unclear as to when production will recommence, leaving a gap in the beginning of 2022 LNG exports.
During the same time, EnergyQuest reported string revenues for LNG from Australia as a result of recent large price surges, leaving a revenue 25% over 2020 at A$50 billion.
The report also detailed the following:
· The United States rapid expansion in export capacity;
· Qatar to increase nameplate capacity to 110 million tonnes per annum;
· Prelude’s outage; and
· The combination of the three may result in Australia losing its top spot as LNG exporter.
China has recently become Australia’s largest market, ahead of Japan.
Leigh Creek Energy has been granted its authorization under the Aboriginal Heritage Act. The coal-gasification and urea hopeful company can now develop its project in the Leigh Creek coal field.
Woodside Petroleum has been tipped to be one of the best oil and gas stocks this region, according to Bernstein Research. The company has just been granted an exploration permit WA-550-P in the North Carnarvon Basin. One of exploration project currently sits at an estimated cost of $47 million which is due sometime between 2025 and 2026.
Woodside is said to be unlikely to invest largely in future exploration unless it holds a high payoff.
2022 oil and gas outlook
Quick adaption to market fundamentals has been identified as the key to the success of oil and gas companies into the future.
Quick adaption to market fundamentals has been identified as the key to the success of oil and gas companies into the future.
Covid-19 has caused the sector to suffer as economic activity slowed and the overall demand for petrol and petroleum products significantly decreased.
Greater energy penetration prospects were renewed when Dow Jones US Oil and Gas Index rose 46 per cent in 2021.
The global acceleration for energy transitions has increases, leaving numerous questions around the role of both oil and gas will play as governments globally attempt to move towards net zero emissions.
Australia is one of the main producers and exporters of both natural gas and coal, leading to major implications on the economy and way of living with the commitment to net zero emissions.
While shareholders and policymakers continue to place pressure on companies to transition, the price of technologies such as carbon capture and storage remains very expensive to deploy on large scale.
The investment in tree plantations to offset footprints or purchasing carbon credits on the market have been employed by companies such as Woodside, Shell, bp and BHP.
Recent research from firm Bernstein Research claims it still sees an apparent intrinsic value in the oil and gas sector, even though it is growing to become a “sunset industry”.
The Australian Petroleum Production and Exploration Association has the view that the solution to reducing emissions is the introduction of new technologies and natural gas.
According to Professor Claus Otto, the director of the Curtin University Oil and Gas Innovation Centre, natural gas can be compatible with a low carbon future as it replaces dirtier coal in electricity generation.
Natural gas is the cleanest of the fossil fuels and is seen as the logical backup for the current intermittency. Oil and gas will remain necessary resources for the immediate future ad the transition in the short term is difficult.
Shell’s Prelude to stay offline until deemed safe
Shell’s Prelude project has suffered a setback as the floating LNG (FLNG) plant was ordered to halt production last month.
Shell’s Prelude project has suffered a setback as the floating LNG (FLNG) plant was ordered to halt production last month.
Following a fire onboard the facility, the environmental regulator directed the facility to stay offline until Shell could adequately demonstrate safety measures, which could involve the removal of 1.5 million tonnes of production off the market through 2022.
The FLNG facility is 475 km north-northeast of Broome in Western Australia, which is designed to extract, liquify and store natural gas at sea prior to transporting it and shipping it to customers.
The fire on board was reported in early December 2021 and caused a complete power outage on the facility which was hosting approximately 200 personnel at the time.
An inspection and investigation by the National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) was ordered following the incident which resulted in the order to continue the halt on production.
Shell must now prove that Prelude can safely recover, by developing a detailed plan and schedule to implement the appropriate corrective measures.
The facility is to date still not operational, and its absence is speculated to tighten an already trouble international market.
Gordon Martin’s Coogee Chemicals scores go-ahead for south-west chlor-alkali plant expansion
Coogee Chemicals has been given the green light for the $40 million planned expansion at Kemerton.
Coogee Chemicals has been given the green light for the $40 million planned expansion at Kemerton.
On Wednesday, the regional joint development assessment panel voted to give the Martin family approval for the new chlor-alkali factory, which will make the companies south-west flagship a similar size to the Kwinana and Brisbane plants.
The plant expansion will consist of clearing approximately 4.7 hectares of native fauna between Harvey and Bunbury which will make way for construction on the new plant as well as services and vehicle access.
Founded and chaired by members of the Martin family, Coogee Chemicals is a key player in the industrial chemical supply chain to WA businesses and more recently other mainland states.
The operations of chlor-alkali produces both industrial and mineral processing chemicals inclusive of chlorine and hydrochloric acid.
The industry is deemed high risk; therefore, the expansion of the plant was identified as a major hazard facility and was subject to the dangerous goods laws.
Coogee however, supplied a detailed risk assessment and management plan to support the application.
Australia reclaims top LNG ranking but position under threat
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.
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.
The country’s exports reached a new record of 80.9 million tonnes, an increase of 3.7 per cent from last year.
EnergyQuest, Adelaide-based consultants, estimate LNG export revenue reached $48 billion in 2021, which would be an increase of approximately 25 per cent from 2020.
“The massive increase in export revenue takes Australia back to the record level achieved in 2019 prior to the pandemic,” EnergyQuest chief executive Graeme Bethune noted.
Australia has the world’s largest total production capacity of 89 Mtpa, while Qatar has total capacity of 77 Mtpa but has plans to expand to 110 Mtpa by 2026.
While new LNG expansion within the Unites States is likely to lead to them over taking Australia for top spot in 2022.
The only projects that produced lower numbers in 2021 than 2020 were North West Shelf operated by Woodside and Inpex’s Ichthys project.
Notably share prices of global LNG players in 2021 appear to have fears much better. While share prices of Shell and Chevron were up over 30 per cent last year.
“Investment in traditional energy is far from dead globally, but it appears to be in the Australian share market,” Dr Graeme Bethune, EnergyQuest chief executive.
EnergyQuest estimates China to replace Japan as the country’s largest LNG market in 2021 with an estimated delivery of 32 Mt.
“Growing LNG sales to China reflect the rapid growth in Chinese natural gas demand as the economy has recovered from the pandemic and also the push to reduce air pollution in major cities,” Dr Bethune said.
Alcoa to curb aluminium output in Spain as energy costs soar
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.
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.
Alcoa’s plant in Spain is the latest casualty of the dramatically increasing energy prices in Europe. The company is set to hit pause on primary production of aluminium as spiking costs continue to put financial pressure on heavy industries. Earlier this month, output was trimmed by Aluminium Dunkerque Industries France, the regions top metal smelter.
A company spokesperson said the shutdown plan offers a chance for a viable future for the troubled plant. For several years Alcoa has deemed the smelter ‘uncompetitive’ and has been trying to close operations for an extended time.
The company has claimed it is committed to providing full wages and benefits to employees over the 2-year closure. They said they are expecting fourth quarter 2021 restructuring-related charge of approximately $US60 million.
“This has been a challenging road for everyone involved. With this agreement, we now have a path to resolve the significant challenges that the facility has faced and can begin to build a stronger smelter in two years,” Chief Executive Roy Harvey said in the statement released after the close of trading on Wednesday.
The plant, however, will continue supplying strategic clients within the pharmaceutical and food industries through remelting aluminium, while maximising production of 65,000 tonnes per year and producing over 25,000 tonnes of aluminium slab.
More recently, Alcoa signed a pre-agreement with Greenalia SA, providing the plant with green energy from 2024 for a period of 10 years.
Coogee plans $40m plant expansion
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.
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.
Coogee aims to increase capacity of the site by 60 metric tonnes per day from their current 55 metric tonnes per day.
The Shire of Harvey has recommended an approval of the proposal by a Joint Development Assessment Panel, strictly on the condition it minimises impact to the surrounding area
Built in 1987 and located within the Kemerton Strategic industrial Area, the plant owners Tronox Pigment Bunbury Ltd and Development WA submitted a development application to be approved by the Shire of Harvey, on the behalf of Coogee.
In the proposal includes a detailed expansion plan for its chlorine plant through the inclusion of a new electrolysis system, brine purification system, a new call room and associated systems as well as a new chlorine gas export system.
The suggested expansion will require clearing of 4.73ha of native vegetation, of which will require a permit from the Department of Water and Environmental Regulation, as well as approval from DWER.
The proposal will be determined on January 5 when the Regional JDAP meet.
Australia’s LNG surge: $63B in earnings
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.
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.
Earnings will double from last year’s paltry $30 billion according to the latest Resources and Energy Quarterly from the Office of the Chief Economist.
The dramatic hit to both oil and spot prices mean earnings will sit at $63 billion this year before evening out to $55 billion the following. This is driven by the oil prices surging and Australia’s exposure via three quarters of LNG being sold through long term oil-linked contracts.
The December outlook revised assumptions from the September issue.
Global LNG trade is anticipating a 2.5% growth in 2021, due to the global economy showing strong recovery from the Covid-19 pandemic.
Australia supplied 22% of world LNG, in line with Qatar. Last year, LNG only comprised 12% of global gas demands, down from 23% in 2019.
“The forecast for $311 billion (in total) export earnings in 2022-23 is up $12 billion from the September quarter 2021 REQ. Downward revisions to iron ore prices, have been more than offset by the impact of improved energy earnings in 2022-23,” stated the REQ.
Asia remains the main driver of import growth of LNG, with approximately 22% growth expected in 2021, mainly driven by the Chinese demand.
The global LNG trade is anticipated to increase by 7.2% in 2022 and 1.4% in 2023, as a result in demand growth flat lines following the recovery of Covid-19.
China’s gas demand will increase by 13% in the two-year outlook period, as the switching policies from coal to gas continue to drive this alongside industrial and residential demand.
The REQ sees China importing 80 million this year.
Top stories from 2021
This year, as the country battled extreme weather and the ongoing pandemic, Australia set the agenda for its energy future.
This year, as the country battled extreme weather and the ongoing pandemic, Australia set the agenda for its energy future.
Both Federal and State governments addressed climate change strategies in the wake of COP26, and continued investments in renewable industries created project milestones.
Five of the most read stories of 2021 include:
5. World-leading hydrogen plant bound for QLD
4. Construction to begin on Kidston Pumped Hydro
3. Gladstone hydrogen plant hits milestone
2. AGL CEO quits effective immediately
1. Federal Budget 2021-22: gas emissions reduction the focus for energy
Victory continues to make case for old Coogee pit extension
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.
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. Their latest assays include more solid drill statistics and 4 metres going 9.34 grams per tonne of gold from 175 metres that hosts a 2-metre intersection.
The company notes the results mean the possibility of more high-grade shoots along the main trend north of the old Coogee pit. Further drilling is now in planning to define both the potential tonnage and ore.
Executive Director Matthew Blake said: “We have now received further encouraging gold‐copper results from our third phase RC drilling programme which continue to further refine the Coogee geological and mineralisation model. In particular, the identification of potential new high grade gold shoots is important as we continue our exploration drilling to discover an attractive high‐grade underground gold‐copper resource at depth.”
There are now plans to submit outstanding samples for an analysis and to generate a 3D block model for the purpose of identifying additional target areas.
WA domestic gas expected to meet demand until 2024
A new Australian Energy Market Operator (AEMO) report has been releases with projections suggesting a finely balanced domestic gas market until 2031.
A new Australian Energy Market Operator (AEMO) report has been releases with projections suggesting a finely balanced domestic gas market until 2031.
The report makes note that forecast demands from existing and prospective projects are expected to be met to at least the close of 2024.
The recently released 2021 WA Gas Statement of Opportunities (GSOO) outlines the potential supply gaps between 2025 and 2027, highlighting rates could reach 85TJ a day.
AEMO’s WA Markets Group Manager, Martin Maticka, said, “The peaks and dips observed in the 2021 WA GSOO indicate supply is expected to exceed demand until at least 2024, with the market tightening in the middle of the ten-year outlook period and then leveling out again from 2027.”
The report also focuses on the noticeable inter-dependencies between the gas and electricity market, as the effects of decarbonisation are felt through the energy sector.
“The strong linkages between Australia’s gas and electricity sectors mean that changes occurring in one sector will have an impact on the other,” said Mr Maticka.
Woodside unveils energy transition strategy
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.
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.
The investment, however, assumes the project merger with BHP’s petroleum business is completed.
“We expect LNG to remain an important part of the energy mix in our region for decades to come, both as a lower-carbon source of fuel for coal-dependent countries and as convenient firming capacity for renewables,” said Meg O’Neill, Woodside CEO.
By the mid-2020’s, the company aims to:
· Achieve start-up of new energy projects
· Scale-up carbon offset projects
· Export ammonia from Australia
· Develop carbon capture utilisation (CCU) opportunities
· Progress CCS opportunities
In 2021, Woodside announced a proposed merger with BHP’s petroleum business after final investment decisions were made surrounding the Scarborough and Pluto Train 2 projects.
Ms O’Neill added, “The merged portfolio would have an exciting pipeline of near-term developments: Sangomar in Senegal; Mad Dog Phase 2, Shenzi North and other attractive opportunities in the Gulf of Mexico; and Scarborough offshore Western Australia.”
On top of this, the company released progress on four other projects including: H2Perth and H2TAS in Australia and the expansion of the Woodside into America with Heliogen and H2OK.
Albanese’s 2030 target sets Labor on collision course in resources-rich WA
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.
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.
The McGowan Labor government, in the resource-dominated, carbon-intensive west has been seen to outsource its climate change policy to the Federal Coalition.
Since these unfolding’s two major developments have unfolded.
Woodside announced its proceedings with the $16 billion Scarborough LNG project, which is the first mega-project in WA in a decade.
The other occurrence is the anticipated Anthony Albanese’s climate change policy.
Prime Minister Scott Morrison spoke to business leaders saying “he did a bit of a jig” when he heard the news the Scarborough project was approved by Woodside’s board.
Chief executive of Greenpeace Australia Pacific, David Ritter, had a vastly different reaction, responding: “For so long as the company persists on this course, the corporate name of Woodside will become synonymous with the destruction of everything Australians hold dear.”
Clean Energy Regulator’s have reported emissions figures, claiming Scarborough would be approximately the sixth-largest emitter within WA, followed by Chevron’s Gorgon LNG and Woodside’s Northwest Shelf LNG.
WA’s current policy gives opportunity for domestic emissions to continue rising over the medium term, with net zero being a “considerable challenge given our energy-intensive industries and projected growth in the resources sector.”
Albanese’s policy plan has been generally welcomed by industries and outlines a more ambitious 43 per cent reduction target by 2030, which notably does not align with the WA trajectory.
From a WA resources view point the key aspect is the commitment in the Albanese policy to “protect the competitiveness of emissions intensive trade exposed industries,” which is a commitment that still requires much detail and explanation.
The gas industry has claimed it wants to consult with the Safeguard Mechanism and the promised carve outs for the industries.
Offshore wind could power Alcoa’s Portland smelter in Australia
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.
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.
The concept is in very early stages, with Alinta surveying an area of 500 square kilometres where there is potential to tap a strong wind resource.
The company would still need to undertake environmental studies, technology and cost studies on top of approvals from both government and local communities prior to moving forward.
“We think the wind farm would need to be around 1,000 megawatts to be viable," Alinta's head of project development Kris Lynch said in a statement.
Despite thousands of kilometres of coastline with strong wind resources, Australia has no offshore wind farms. However, there are more than 10 proposals with a joined capacity exceeding 25 gigawatts.
The offshore industry has the capability to take off following new Government legislation setting out the long-anticipated framework for the development of offshore wind. It is to be noted however, that regulations from the law are still in the process of being established.
The Portland Smelter, run by Alcoa, has the potential to be up to 100% renewables, if Alinta’s Spinifex project goes ahead.
"This proposal offers an ability to make a step change impact to Portland Aluminium's carbon footprint," Portland Aluminium Smelter Manager Ron Jorgensen said in a statement.
Alinta Energy is a privately owned by Hong Kong conglomerate Chow Tai Fook Enterprises.
Industry report highlights oil & gas’ role in Broome economy
Broome International Airport Group in partnership with the Broome Chamber of Commerce commissioned a report into the value of Broome’s oil and gas industry.
Broome International Airport Group in partnership with the Broome Chamber of Commerce commissioned a report into the value of Broome’s oil and gas industry. Completed by PwC, the report revealed the sector contributes $100 million into the town’s economy and has created 505 full-time jobs.
Despite oil and gas largely occurring outside of Broome, the town is relied upon as a central hub for large scale projects such as the Browse Basin gas reserve, the Prelude floating LNG and Ichthys LNG.
“Thousands of employees use the airport to travel through Broome every year en route to these offshore facilities, many of whom stay overnight in town,” the report said.