Energy Networks Australia has welcomed progress towards a National Hydrogen Strategy, with the recent release of a discussion paper for public comment. CEO Andrew Dillon said support from both sides of federal politics for hydrogen and its potential as a low or zero-emission energy source to back up renewable power was important to support the transition to a clean energy future. “Hydrogen can be produced carbon free from excess renewable energy, storing this energy in a clean way for when the sun doesn’t shine and the wind isn’t blowing,” he said.
Industry
Forties Pipeline System investment is ‘vote of confidence’ in North Sea future
The leading representative body for the UK’s offshore oil and gas industry has welcomed news INEOS is to invest £500m (AU$920 million) in the Forties Pipeline System as a vote of confidence in the future potential of the industry. INEOS said that the investment will transform the asset and extend the life of the pipeline by at least 20 years. Commenting, Oil & Gas UK upstream policy director Mike Tholen said: “Investment of this scale in the Forties pipeline system is a vote of confidence in the future potential of the UK North Sea.
National gas can power hydrogen future, says APPEA
APPEA has welcomed the announcement that the Australian Government will advance the development of a national hydrogen strategy as the first step to developing a valuable new industry for the nation. “There is tremendous interest globally in hydrogen as a new, cleaner fuel. Australia is well placed to capitalise on our already abundant natural advantage,” said APPEA Chief Executive Dr Malcolm Roberts.
‘LNG import terminals critical to combatting Sydney-Melbourne gas shortage’
LNG import projects are urgently needed in both Melbourne and Sydney to counter the risks of a growing shortage of gas in the southern states, according to a major energy report released today. Based on new modelling by independent energy consultancy, EnergyQuest, gas production in the southern states (NSW, Victoria, South Australia and Tasmania) starts to shortfall demand by 2022. By 2025, the report forecasts that annual gas production offshore Victoria will more than halve from current levels, dropping to 146 petajoules (PJ) from 336 PJ in 2018.
‘HEADWINDS LOOM FOR QUEENSLAND’s A$84b LNG SECTOR’
Queensland faces the partial shut-down of a third of its barely decade-old $84 billion LNG industry by the middle of next decade due to a gas supply shortage, together with diversions to the domestic market. This would cut output to four LNG production trains from the current six trains built on Curtis Island off Gladstone by three project owners. Underpinning the production noose is an emerging forward reliance for feedstock on gas reserve estimates that could fall well below delivery expectations, according to a new report by EnergyQuest.
Shell leads capex spend on new global oil and gas projects
A total new-build capital expenditure (capex) of US$846bn is expected to be spent globally on planned and announced upstream projects from 2019 to 2025. Royal Dutch Shell Plc leads among all oil and gas companies and is expected to spend US$54.6bn on upcoming upstream projects during the forecast period, according to data and analytics company, GlobalData. The company’s report reveals that Gazprom and Exxon Mobil Corp are the next top spenders with new-build capex of US$49.8 billion and US$43 billion, respectively.
‘Bipartisan support will help resources sector dig deeper’
The peak body for Australia’s 8,000 geoscientists — the Australian Geoscience Council (AGC) — has strongly welcomed commitments from both the Coalition Government and Australian Labor Party to boost support for the exploration of ‘next generation’ hidden mineral deposits in Australia. “While Australia is endowed with significant mineral resources and the resources sector contributes massively to our economy, the ‘easy to find’ minerals of past decades have largely been discovered and exploited” AGC President, Dr Bill Shaw, said. “There is now a need to explore much deeper underground for the nation’s new ‘hidden’ mineral fields.
‘National Resources Statement outlines a blueprint for success’
The oil and gas industry has welcomed the release of the National Resources Statement, the first since February 1998. The vital contribution the resources sector makes to Australia, particularly in the regional areas that host development, is highlighted in the Statement. APPEA Chief Executive Dr Malcolm Roberts congratulated Minister for Resources Matt Canavan for taking the initiative to develop this statement and encourage a bi‑partisan and long‑term policy approach for Australia’s important resources sector.
Maiden gas reserves for Po Valley’s Selva field
Australia’s Po Valley Energy Limited has announced maiden gas reserves for its majority-owned onshore Selva Malvezzi field, northeast of Bologna in northern Italy. The maiden gross 2P reserves for Selva of 13.3 were prepared by CGG, from previously reported gross contingent resources (“2C”) but also includes results from new drilling on the field early last year (Podere Maiar 1 well). The milestone estimate announced delivers 8.38 bcf of net 2P reserves attributable to Po Valley and represents the company’s first reserves for this gas field.
AGIG welcomes NT Government announcement on new $170m pipeline
Australian Gas Infrastructure Group (AGIG) has welcomed the Northern Territory Government’s decision to grant conditional consent to commission and operate the new $170 million Tanami pipeline infrastructure. The recent announcement by NT Minister for Primary Industry and Resources, Paul Kirby, said construction of the Tanami Gas Pipeline was complete and AGIG could now test the pipeline by introducing gas at the pressure under which it will operate. The Minister said once testing is successfully completed and independently verified, the pipeline will be able to go into full operational mode.