Australia

Pacific Energy-Enbridge Venture Woodfibre to Supply 100% of its LNG to BP

Pacific Energy and Enbridge-owned Woodfibre said on Tuesday it would supply 100% of the LNG from its proposed plant in British Columbia to BP Plc after it signed another agreement with a unit of the energy major.

Global News August 2023

Latest industry developments from around the world!

Australia's Kinetiko Energy in Talks with Sasol on Gas Supply Deal

Australian gas explorer Kinetiko Energy, which has found shallow sandstone gas in South Africa, has started talks with petrochemical company Sasol on a possible supply agreement, Kinetiko’s chief executive said on Monday.

Asian Buyers May Seek U.S. LNG If Australia Worker Disputes Worsen, Analysts Say

Major Asian buyers of LNG could seek U.S. cargoes in the coming weeks if worker-related disputes at key LNG facilities in Australia escalate, analysts said, as electricity demand continues surge due to warm weather.

Chevron Invests in Lower-Carbon Pilot Projects in Australia

The energy major would provide funding to Carbon Sync, which is leading a soil carbon sequestration pilot project as well as a research project with Deakin University to explore potential carbon dioxide sequestration opportunities in the region's coastal wetlands.

Planned Strike at Woodside, Chevron Australian Facilities Sparks Concern Over LNG Supply

Workers at Woodside Energy Group and Chevron's LNG facilities in Australia voted to strike on Wednesday, industry sources and Australian media reported, sending European gas prices higher on concern over supplies.

Australian Firm FFI Dives into U.S. Market with Phoenix Hydrogen Hub Acquisition

(P&GJ) — Australian green hydrogen developer Fortescue Future Industries (FFI) has made its first move into the U.S. market by purchasing the Phoenix Hydrogen Hub (PHH) project in Buckeye, Arizona, from fuel-cell truck manufacturer Nikola for $24 million.

Global News July 2023

Latest industry developments from around the world!

Global Construction Update: LNG Markets, Resurgent China Kindle Pipeline Projects

(PGJ) — Global midstream markets continue to face near-term headwinds and economic uncertainties, but Europe’s rapid transition from Russian energy and projected higher demand in Asia continue to drive midstream expansion in those regions and others that supply them.

Brent Oil Hovers Above $81 After Supply Disruptions

Global benchmark Brent crude hovered above $81 a barrel on Friday, with bullish sentiment over U.S. demand bolstered by supply disruption in Libya and Nigeria.

Senex, AGL Sign Major Australian Gas Supply Deal

The deal comes amid warnings this year from Australia's energy market operator of long-term supply gaps for gas on the country's east coast, and after gas producers said they were reluctant to invest in new supply following government interventions.

China Prioritizing Turkmenistan Over Russia in Next Big Pipeline Project

China is accelerating the building of a long-delayed Central Asian pipeline to source gas from Turkmenistan even as Russia pushes its own new Siberian connection, as Beijing juggles its energy security needs with diplomatic priorities.

Comet Ridge, Jemena Ink Deal for Mahalo North Gas Pipeline

(P&GJ) — Under the deal, Jemena will immediately undertake a pre-FEED study of a Jemena-owned and operated high-pressure gas transmission pipeline of approximately 73 km (45 miles) from the Mahalo North Gas Project to Jemena’s Queensland Gas Pipeline (QGP).

Australia's Beach Energy Shares Tumble on Waitsia Gas Project Delay

Shares of Beach Energy Ltd. fell nearly 8% on Thursday after the Australian oil and gas explorer said it was no longer prudent to maintain capital expenditure and timing estimates for its $520.93 million Waitsia Stage 2 gas project.

Woodside Open to Talks with Chinese Firms for Scarborough Gas Project

Woodside Energy Group said on Tuesday it is open to talks with Chinese firms to invest in its $12 billion Scarborough LNG project in Australia.

Chevron, Exxon Seek State Backing for Australia Carbon Capture, Hydrogen Projects

Chevron Corp. and Exxon Mobil Corp., the two largest U.S. fossil fuel companies, are seeking Australia's backing for carbon capture and storage (CCS) and hydrogen projects as they look to increase investment in a bid to slash intensity of carbon emissions.

Australia Government to Change Petroleum Tax, LNG Projects to Pay More

Australia will change its Petroleum Resource Rent Tax (PRRT) to increase the tax paid by the offshore LNG industry, moves that should increase revenue by $1.6 billion over the next four fiscal years, Treasurer Jim Chalmers said on Saturday.

Timor Gap CEO Expects Great Sunrise Gas Project Decision by November

The head of East Timor's national oil company said he expects a decision by November on whether to pipe natural gas from its offshore Greater Sunrise project to the Southeast Asia island or to Australia for liquefaction and export.

Global News May 2023

Latest industry developments.

BP Agrees to Buy Shell's Stake in Australian Browse Gas Project

BP has agreed to buy rival giant Shell's 27% stake in the Browse joint venture, expanding its holding in Australia's largest untapped gas resource in a move that could improve the development prospects for the long-stalled project.

CEO: Woodside's Stalled Browse LNG Project Still 'Very Attractive'

The estimated $13.8 billion Browse project to develop Australia's largest untapped gas resource has been bogged down for years by demand uncertainty and negotiations over a processing agreement.

G7 Climate Ministers Drop Language on Growing LNG Demand in Draft

Climate ministers of the Group of Seven countries have backtracked for now on earlier language touting growing future demand for LNG, instead noting there may be "considerable uncertainty" for consumption.

Global News April 2023

US LNG exports hit record as Freeport production returns, Granholm says refilling US strategic petroleum reserve could take years, EU Nations seek legal option to stop Russian LNG imports, Oil firms halt or cut output in Iraqi Kurdistan, and more!

ConocoPhillips to Pay $500 Million to Raise Stake in Australia's APLNG

ConocoPhillips currently holds a 47.5% stake in APLNG, one of the largest suppliers of natural gas to Australia's East Coast. Origin and China's Sinopec hold the remaining shares in APLNG.

Australian LNG Exports May Be Diverted to Mitigate Winter Gas Shortage

Despite increased production commitments from the industry since last year, the supply in southern Australia is declining rapidly, raising risks of near-term shortages and long-term supply gaps, the Australian Energy Market Operator said.

Global News - March 2023

Latest industry news and developments

Coming of Age with Increase in Australian Pipeline Market

(P&GJ) — Just one year on from establishing a new entity in Australia, pipeline technology specialist STATS Group, is looking forward to a bright future after securing frame agreements with some of the region’s largest Tier 1 operators.

Australian Government Seeks More Leeway to Curb East Coast LNG Exports

Australia's government has proposed to expand its ability to curb LNG exports from three projects on the east coast in order to meet gas supply shortfalls, under a plan due to take effect in April.

Australia's Beach Energy Reaches Deal with Webuild on Waitsia Gas Project

Australia's Beach Energy Ltd. on Monday said it reached a deal with Italy's Webuild SpA to complete delivery of the $528.92 million Waitsia Stage 2 gas project, subject to approval from the project's contractor Clough Ltd., which was placed into administration in December.

Australia and Germany to Invest $90 Million for Joint Hydrogen Supply Chain Projects

Australia and Germany have earmarked $35.5 million and $54.4 million, respectively, towards a joint initiative to establish a green hydrogen supply chain, Australian Minister for Climate Change and Energy Chris Bowen said on Friday.