Industry

Still Bearish Despite LNG Disruptions, Cold Snap, Says Rystad Energy’s Gas and Market Update

02/12/2023 Posted by Dale

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

27/11/2023 Posted by Dale

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

27/11/2023 Posted by Dale

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

20/11/2023 Posted by Dale

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

20/11/2023 Posted by Dale

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

20/11/2023 Posted by Dale

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

13/11/2023 Posted by Dale

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.

Roller Coaster Ride for the East Coast Gas Markets

13/11/2023 Posted by Dale

The latest annual east coast report from independent energy consultancy EnergyQuest, East Coast Gas Outlook finds that the outlook for east coast gas is a white knuckle roller coaster ride.

The new 314-page report is the leading energy consultancy’s annual in-depth analysis of the long-term outlook for the east coast gas market, compiled by a multi-disciplinary team of experienced energy professionals: geologists, petroleum engineers and gas marketers.

“The outlook for the east coast gas industry is one of great uncertainty.

New Gas Supply Highlighted as Sector Fuels Record WA Resources Sales

13/11/2023 Posted by Dale

Australia’s oil and gas industry has helped underpin billions of dollars of economic benefits in a record-breaking year for Western Australia’s resources sales.

Russian Crude Exports Far Above Target Level in October says Rystad Energy’s Oil Market Update

06/11/2023 Posted by Dale

In a report likely to cause consternation in Washington and Brussels, Rystad Energy says Russian Crude exports were far above target level in October.