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One Day – One Country: Australia

Australia Key Projects and Business Highlights

Since 2013, Australia suffered from hard messages when series of oil and gas companies no less than Apache, BG Group (BG), BHP Billiton (BHP), Chevron, ExxonMobil, Inpex, PetroChina (CNPC), Shell or Total sent warning announcements regarding the spiraling costs of their projects with the immediate consequence to freeze all major further developments.

The impact of these Australian costs was even more amplified than it came up in a context where the USA were confirming to produce shale gas in profitable conditions at $4 per mBTU.

Gladstone_LNG_Fisherman_Landing_LNG_Project_MapAs a result Australia felt under the chisels effect of the ballooning costs on one side and the depressing market prices on the other side.

On the first half 2014, this double market pressure pushed the companies to investigate all the solutions to optimize their existing assets before investing in new ones.

Since the major part of the costs relies on the liquefied natural gas (LNG) export terminals all the companies are looking to increase exploration production efforts in order to run the LNG plants already decided and under construction at their maximum capacity from start before considering new facilities. 

In November 2014, the Australia Government published incentives to motivate the oil and gas companies operating in the countries to set there research and development centers.

It also revises its 457 program for immigrants in order to attract the talents to support this financial efforts.

In response to these initiatives the Australian Petroleum Production and Exploration Association (APPEA) is still calling to adapt the Fair Work Act according to the new context and restore the competitive advantage of the local companies.

In this positive trend Santos Ltd, EnergyAustralia Ltd, LNG Ltd,  Tri-Star Petroleum Company, Shell, Arrow and PetroChina have decided to move ahead in major projects contributing to put Australia back on the right tracks to become the major natural gas supplier in Asia. 

Narrabri CBM to supply New South Wales gas market

Santos_NSW_Narrabri_Coal-Bed-Methane_ViewOn November 2014, the Adelaide-based independent oil and gas company Santos Ltd (Santos) and its partner EnergyAustralia ltd submitted an Environment Protection and Biodiversity Conservation (EPBC) referral to the Commonwealth Government for the environmental assessment of its Narrabri coal bed methane (CBM) project in the New South Wales (NSW) Gunnedah Basin.

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Australia Fisherman Landing LNG project moves again

Gladstone_LNG_Fisherman_Landing_LNG_ProjectThe Australia– registered company Liquefied Natural Gas Ltd (LNG Ltd) signed through its wholly-owned subsidiary Gladstone LNG a non-binding memorandum of intent (MOI) with the Texas-based Tri-Star Petroleum Company (Tri-Star) for the gas supply to feed its Fisherman Landing Liquefied Natural Gas (FLLNG) project near Gladstone in the Queensland State  of Eastern Australia.

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Arrow awarded Bowen coal bed methane project FEED

Australia_Shell_Arrow_Coal-bed-Methane_Project-FEEDThe international oil company (IOC) Royal Dutch Shell (Shell) and the national oil company China National Petroleum Corporation (CNPC or PetroChina) have decided to move on their Australian 50/50 joint venture Arrow Energy Penty Ltd (Arrow)Bowen Gas Project (BGP) to the next phase in making the decision to proceed with the front end engineering and design (FEED). With the Bowen Gas ProjectShell and CNPC are willing to develop the coal bed methane of the Bowen Basin in the northeast of Australia.

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Shell and CNPC expand Arrow Energy Daandine

Shell_PetroChina_Arrow_Baandine_Expansion_ProjectThe international oil company (IOC) Royal Dutch Shell (Shell) and its partner, the national oil company (NOC), China National Petroleum Corporation (CNPC or PetroChina) have decided to move on fast track for the execution of their shared subsidiary Arrow Energy Pty Ltd (Arrow) gas Daandine Expansion project in the Surat Basin of Queensland, Australia.

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For more information about oil and gas and petrochemical projects go to Project Smart Explorer

 

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