The sixth and latest annual East Coast Gas Outlook 2024 from EnergyQuest, finds that the outlook for east coast gas is now entering ‘uncharted energy frontiers’.The new 315-page report is the leading energy consultancy’s annual in-depth analysis of the long-term outlook for the east coast gas market.Gas supply shortfalls are expected for the east coast and Northern Territory (NT) market as soon as 2026, and with increasing certainty and impact from 2028. That much is already well known.
Latest News
Viridian Expands its Industrial Cloud to the US Market
Viridien has announced the US launch of its industrial Viridien Cloud for AI and HPC production at SuperComputing 2024. This move expands on Viridien Cloud’s established success in Europe, by now offering tailored cloud solutions and end-to-end expertise to optimize compute-intensive production workloads for US industries.
Building on decades of established HPC operations in the US that have supported its subsurface imaging business, Viridien is now introducing its innovative cloud solutions to meet the evolving and specific needs of key sectors, including AI, life sciences, engineering, digital media and energy.
Are Electric Vehicles Really Disruptors in the Australian Petroleum Markets?
By Max Williamson
Potential buyers and users of EV’s need to be extremely wary and questioning of the claims, counter claims and promo materials being put out by the vested interests.
If UBER is getting completely out of hybrids for its fleet, there must be economic support for EV’s versus hybrids for higher use operators and commercial fleets.
The second-hand market for older model EV’s, including Teslas is dramatically negatively impacted by the age of the batteries therein, the warranties periods remaining on the batteries and the then version of the EV technologies in those vehicles.
COP29: TotalEnergies to deploy continuous, real-time methane emissions detection equipment on all its operated upstream assets
As part of its ambition to aim for near-zero methane emissions by 2030, TotalEnergies has announced it will monitor and reduce methane emissions with the deployment of continuous, real-time detection equipment at all of its operated Upstream sites.
Since 2022, TotalEnergies said it has been pursuing its ambition to aim for near-zero methane operated emissions in 2030: the Company will meet as soon as this year and target to reduce emissions by 50% compared to 2020, a year ahead of plan.
TotalEnergies said it was thus "well on track to achieve the targeted 80% reduction by 2030.
Shell wins appeal against 2021 ruling that ordered the supermajor to reduce carbon footprint by 45%.
Shell has won an appeal against a 2021 ruling that ordered the supermajor to reduce its carbon footprint by 45%.
The appeals court, which was heard in The Hague, Netherlands, found that Shell did have a responsibility to cut emissions, but not by a stipulated amount.
The 2021 ruling had found that Shell should slash emissions by 45% by 2030, compared to 2019 levels.
The court said Shell was already on track to meet its own emission reduction targets and it was uncertain if demands that it further reduce emissions caused by the use of its products would help the battle against climate change.
‘Hands off Gallagher,’ he’s ‘Staying at Santos’
SANTOS has raised eyebrows with a stern rebuttal of reports that it’s CEO Kevin Gallagher was destined to replace Chris Ellison as chief executive of Minres.
This came after Ellison, MinRes’s founder and the company’s biggest shareholder fell foul of ASX reporting on tax related issues and the company announced he would be stepping down as CEO within 12-18 months.
The West Australian had reported that Gallagher,59, Australia;’s longest serving energy CEO, over the past 9-years, could be ticked off as a potential candidate.
Santos responded almost immediately, dismissing any such suggestion as “completely fabricated, without foundation and false”.
The masthead handballed responsibility to MST Marquee energy analyst Saul Kavonic who it said had “speculated” in his daily newsletter that Gallagher could be MinRes bound in the not-too-distant future.
Moomba CCS Start-up
Beach Energy announced on 17 October the successful commissioning and start-up of the Moomba Carbon Capture and Storage project.
All facilities, including five injection wells, CO2 dehydration and CO2 pipelines have been brought to capacity. The project is targeting capture and storage of 1.7 million tonnes of CO2 per annum in depleted Strzelecki and Marabooka field reservoirs.
Final Investment Decision for the project was announced in November 2021 and 60% completion was reached in May 2023 with the arrival of the compressor and turbine.
Moomba CCS is the third CCS project in Australia and follows the Otway International Test Centre and the Gorgon CCS project.
Airborne Survey Wraps up in Victoria
An airborne gravity survey across southern and eastern Victoria has been completed by Sander Geophysical.
The airborne survey was collaboratively organised through Surveyor-General Victoria within the Department of Transport and Planning (DTP), Geological Survey of Victoria within the Department of Energy, Environment and Climate Action (DEECA) and Geoscience Australia (Commonwealth Government).
The objective of the survey was to collect consistent and evenly distributed gravity measurements. The new gravity data will significantly improve Victoria’s gravity model which is used to provide accurate and reliable heights from GPS positioning.
Viridien, TGS and Aquila Holdings announce successful completion of the Utsira OBN reprocessing project
Viridien and its partners TGS and Aquila Holdings (under its subsidiary Axxis Multi-client AS) have announced the completion and delivery of the reprocessing of the Utsira ocean bottom node (OBN) seismic survey in the Norwegian North Sea.Viridien said it had reprocessed the resulting data set with its latest OBN imaging technologies, including time-lag full-waveform inversion, and advanced velocity model building techniques, to yield "significant improvements in image resolution and frequency content for fault interpretation and reservoir characterization workflows". https://lnkd.in/gBNDPsTE
Shearwater Awarded Large 3D Frontier Exploration Survey in Suriname
Shearwater Geoservices has been awarded a large 3D seismic survey by PETRONAS in Suriname. The project, covering 6,000 square kilometres, marks the continuation of Shearwater’s commitment to PETRONAS in this frontier area having previously performed acquisition work in Block 52.
The Amazon Warrior has been allocated to the three-month project, commencing in Q4 2024.
“High-quality seismic data is a key enabler for unlocking the vast resource potential of the prolific Suriname-Guyana basin and accelerating exploration activities.
Shearwater’s state-of-the-art technology and capabilities enable safe and efficient acquisition of exploration seismic data with the highest quality for our clients, supporting their ambitions in this exiting area.” said Irene Waage Basili, CEO of Shearwater.