For the past nine calendar years, every year, Australia has seen a new production record, but the streak will end in 2023, and it’s unlikely we will see another record.
Industry
Tepid Demand and High Storage Levels Keeping Natural Gas Prices Down
Rystad Energy’s Gas and LNG Market Update from Senior analyst Lu Ming Pang has revealed a slump in Title Transfer Facility (TFF) prices.
CCS Hub Aliance Decarbonisation Solution for Hard to Abate CO2 Emitters
DORIS, Axens, AWT International, Sea-Quester Offshore and Surbana Jurong Infrastructure have formed the CCS Hub Alliance, a partnership dedicated to delivering cost-effective and risk-reduced decarbonisation solutions to hard-to-abate CO2 emitters.
Still Bearish Despite LNG Disruptions, Cold Snap, Says Rystad Energy’s Gas and Market Update
Wei Xiong
Senior Analyst
Despite freezing temperatures in Northwest Europe and delivery disruptions at Australia Pacific LNG due to vessel outages, Title Transfer Facility (TTF) prices were down 8.7% to $13.71 per million British thermal units (MMBtu) on 28 November from the previoius week’s highest level.
Ongoing bearish sentiment is due to a muted gas demand outlook and ample inventories in the northern hemisphere.
Underground gas storage facilities in Europe were 97.4% full at 111.98 billion cubic meters (Bcm) as of 26 November, compared to the five-year midpoint at 98 Bcm, despite the start of net withdrawals in early November.
H2SITE and Gold Hydrogen Sign MoU for Natural Hydrogen Pilot Plant on the Yorke Peninsula
H2Site and Gold Hydrogen have signned a MoU to develop a natural hydrogen pilot plant on the York Peninsula,
APA and Santos sign MOU to Explore Development of Potential CCS Pipelines
APA Group has signed a Memorandum of Understanding (MoU) with Santos to explore the development of potential Carbon Capture and Storage (CCS) pipelines for their Moomba CCS facility.
CSIRO Report Confirms WA Carbon Capture Economic Boom Under Net Zero
Western Australia’s economy would enjoy a $55 billion boost by 2050 from rolling out carbon capture hubs while creating tens of thousands of jobs and protecting existing resources jobs, according to a new report.
The CCUS Hubs Study was commissioned by the WA LNG Jobs Taskforce and co-authored by the Commonwealth Scientific and Industrial Research Organisation (CSIRO) and the Global Carbon Capture and Storage Institute (GCCSI).
Australian Energy Producers said the research showed how industrial centres could share infrastructure to carpool carbon – conceptualised as Net Zero Zones by an Australian Energy Producers study in May – to accelerate emissions reduction and attract new investment.
World-first Hydrogen and Renewable Energy Bill 2023 Has Passed the South Australian Parliament
The Department of Energy and Mining has welcomed the passing of the Hydrogen and Renewable Energy Bill in the South Australia parliament.
DEM said: “This historic piece of legislation is set to open up global investment into the state's hydrogen and renewable energy industries, solidifying the state's position as a world leader in the global energy transition. “The Hydrogen and Renewable Energy Act 2023 will streamline the process for companies to invest in these industries, while ensuring that projects are carried out in ways that protect the social, economic and environmental needs of the state."This is a significant milestone, but the work doesn't end here.
All eyes on Vienna as Oil Market Saudi Weighs Decision on Cut Extension in 2024
Oil markets are eagerly awaiting the OPEC+ meeting on Sunday, 26 November, in anticipation of what kingpin Saudi Arabia decides over its voluntary crude oil production cuts of 1 million barrels per day (bpd), writes Rystad Energy’s senior vice president Jorge Leon in the company’s latest oil market update.
Regardless of the path they take, Saudi Arabia’s decision on the production cuts will ultimately shape the short-term future of global oil prices.
The kingdom is balancing the desire to keep prices high by limiting supply with the knowledge that doing so will lead to a further drop in overall market share.
Aerospace Sector’s Growing Appetite for Steel Threatens Metal Supply for the Energy Industry
A vigorous recovery from the global aerospace industry has increased demand for nickel, a key aircraft component prized for its corrosion resistance, high strength and exceptional mechanical properties. This could inadvertently complicate or delay new energy infrastructure developments by diverting metal supply from critical sectors such as upstream, offshore and liquefied natural gas (LNG) terminals, which use nickel for various equipment applications in extreme environments.
Aerospace customers procuring high volumes at premium prices are further extending lead times and increasing spot prices of these materials, particularly in Europe and the US.