Industry

Equnior’s decision to withdraw its plans to drill for oil in the Great Australian Bight has been attributed to increasing carbon-related constraints in Europe.

That is the view of EnergyQuest CEO Dr Graeme Bethune, an energy analysis and strategist, who described the decision as “disappointing for Australia and South Australia”.

“In our view, the decision is likely to have been driven by stronger carbon reduction targets of the European oil companies,” Dr Bethune said.

“Earlier this month, Equinor announced it would include Scope 3 in its emission reduction target (50% cut in net carbon intensity by 2050).

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From a starting point of approximately 1.2 billion cubic feet per day (bcfd) of export capacity in 2016, the US will become the third most important liquid natural gas (LNG) exporting country with a total capacity of 8.9bcfd by the end of 2020, according to data and analytics company GlobalData.

Adrian Lara, Senior Analyst Upstream Americas at GlobalData, comments: “By the year 2025, the additional capacity from new trains in existing plants, as well as from newly constructed plants, will reach an estimated 14.3bcfd.  

“However, several approved LNG plants could start production as early as 2023...

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APPEA has welcomed the announcement by the Victorian Opposition to support lifting the state’s moratorium on conventional onshore natural gas development.

APPEA Chief Executive Andrew McConville said Victorian homes and business would continue to bear the cost burden if the politically-motivated ban on gas development remained in place.

“Natural gas will continue to be a significant source of energy for Victoria for decades ahead, and a sensible position on onshore resource development is needed for all Victorians,” Mr McConville said.

“Victoria has an ongoing requirement for more natural gas.

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Australian Gas Networks Limited (AGN) has announced that it had been awarded funding of $1.28 million from the Federal Government’s Australian Renewable Energy Agency (ARENA) to support the Australian Hydrogen Centre (AHC) to explore the feasibility of blending hydrogen into natural gas networks.

The AHC has also received funding support from SA’s Department for Energy and Mining and Victoria’s Department of Environment, Land, Water and Planning. Other AHC Founding Members include gas and energy infrastructure business AusNet Services, and leading renewable energy companies, ENGIE and Neoen.

The AHC will develop feasibility studies to inject up to 10%...

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The Australian Government has moved quickly to ensure the safety and integrity of the Northern Endeavour, signing a new agreement with Upstream Production Solutions (UPS), to operate and maintain the vessel.

UPS is a respected and reliable operator in the offshore sector. It will operate the vessel in lighthouse mode, the minimum required for safe operations, with no production and a small crew until a longer-term solution is determined.

Minister for Resources, Water and Northern Australia Keith Pitt said the Northern Endeavour was in reliable hands.

“UPS has safely re-boarded the Northern Endeavour and reports that the...

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The Australian Government has been advised that the Northern Oil and Gas Australia (NOGA) group of companies has been placed into liquidation.

Minister for Resources, Water and Northern Australia Keith Pitt said this is an unprecedented event in the offshore oil and gas industry in Australia.

“It is regrettable that a commercial solution could not be found to prevent NOGA entering liquidation, but the Government will do everything it needs to do to protect the safety and security of the Northern Endeavour production vessel to protect the environment and keep workers safe,” Minister Pitt said.

The National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) has advised that as the Northern Endeavour is not currently in production, the risks associated with safety and the environment are low.

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The UAE’s first confirmed case of the Wuhan coronavirus -- the first confirmed case in the Middle East – has had a greater impact on oil prices than Libyan oil shutdown or Iran-USA tensions.

That’s according to data analytics company GlobalData, who said of the recent outbreak and its influence on markets.

“The Gulf region, and Dubai in particular, is a major travel and business hub between Asia and Europe. Its links with China have been an important part of the region’s development in recent years.

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A Perth geoscientist who has pioneered taking science out of the classroom into a hands-on, in-the-field experience – particularly for remote area schools – has been praised for her nomination among Saturday night’s “Australian of the Year” awards in Canberra.

Ms Suzy Urbaniak was WA’s nominee in the “Australian of the Year - Local Heroes” award category.

The ‘Local Hero’ award acknowledges extraordinary contributions made by Australians in their local community – with Ms Urbaniak currently making significant inroads into science education in WA’s Pilbara region.

A former 2016 Prime Minister's Prize for Excellence in Science Teaching...

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Australia has officially become the world’s largest exporter of Liquefied Natural Gas (LNG) on an annualised basis.

In sending overseas, an estimated record 77.514 million tonnes (Mt) of locally produced LNG in calendar 2019, Australia edged out former No. 1 LNG export titleholder Qatar, expected to produce 75Mt in 2019.

The 2019 Australian LNG exports were more than twice those of the United States, the world’s other fast-growing LNG producer. The US Energy Information Administration expects the US to have exported 34.3Mt in 2019.

The Australian contribution came from across all three now fully established LNG hubs...

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Natural gas production for Northwest Europe is forecast to decline by approximately 25% from current levels over the next five years as upcoming projects struggle to offset overall declines, according to data and analytics company, GlobalData.

The company’s report, ‘2019 Northwest Europe Upstream Development Outlook – Surge in New-Build Oil and Gas Project Starts for 2020’, reveals that gas production fell year on year over the last two years, a trend that is set to continue over the forecast period.

The lack of major upcoming gas projects, alongside a production phase out at the giant Groningen gas field, has set a clear downward trend for gas production in Northwest Europe.

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