News

  • Queensland approves four new gas projects in Bowen Basin with $21m funding

    NEWS

    Queensland approves four new gas projects in Bowen Basin with $21m funding

    In a bid to boost gas supply and support domestic energy needs, Queensland has greenlit four new gas projects in the Bowen Basin, backed by a $21 million New Frontier Gas Exploration Program. The funding, aw... more

  • Northern Territory pursues gas development amid net zero goals

    NEWS

    Northern Territory pursues gas development amid net zero goals

    The Northern Territory government is forging ahead with an ambitious strategy to tap into the Territory's substantial gas resources, particularly focusing on the Beetaloo Basin, all while striving to achieve ne... more

  • Hartshead Resources advances gas fields amid fiscal uncertainties

    NEWS

    Hartshead Resources NL expands UK portfolio with 10 block wins

    Hartshead Resources NL (ASX: HHR), a European-focused ASX-listed energy company, has achieved remarkable success in the 33rd UK Licensing Round, securing 10 blocks that significantly expand its UK portfolio. ... more

  • Australian govt unveils Future Gas Strategy to drive net zero transition

    NEWS

    New Future Gas Strategy to drive Australia’s net zero transition

    The Australian government has unveiled its Future Gas Strategy, outlining a comprehensive plan for the role of gas in the nation's transition to net zero emissions by 2050. The strategy, released by Minister... more

  • Queensland approves four new gas projects in Bowen Basin with $21m funding
    16 May, 2024
  • CCS key to get the world to net-zero faster
    19 Aug, 2021
AEMO’s 2024 GSOO emphasises gas's role and urges supply planning

AEMO’s latest GSOO forecasts gas use decline and supply gap

21 Mar, 2024
The Australian Energy Market Operator (AEMO) recently released its Gas Statement of Opportunities (GSOO) for 2024, providing insights into the future of natural gas consumption and supply in Australia. Associate Professor Roger Dargaville from Monash University shared key trends and challenges highlighted in the report. According to the GSOO, natural gas consumption in Australia is expected to gradually decline in the coming years, driven by increases in the electrification of domestic and industrial heating. This shift reflects a global trend towards cleaner energy sources and reduced reliance on fossil fuels. One significant finding of the report is that without changes…
Sentinel Subsea presented Post Commercial Deployment Award (L-R Neil Gordon, Andrew Jaffrey, Jim Gordon, Amy Connell, Robert Thomson and Wynne Evans) (2)

Celebrating innovation at the 2024 Offshore Achievement Awards

21 Mar, 2024
The 2024 Offshore Achievement Awards, held at the P&J Live in Aberdeen, showcased remarkable achievements in the energy industry, recognising individuals and companies for their outstanding contributions. The event, which marked its 37th edition, featured several award categories highlighting innovation and excellence in the offshore sector. Among the winners was Mocean Energy, recognised for its pre-commercial deployment technology. Mocean Energy's innovative approach in this field has paved the way for advancements in renewable energy solutions. Another notable winner was Sentinel Subsea, which received the award for Post-commercial deployment technology. Sentinel Subsea's WellSentinel technology has been applauded for its role in…
NSW government bans seabed mining to protect coastline

NSW first in Australia to ban seabed petroleum exploration

18 Mar, 2024
The New South Wales government has taken a significant step towards protecting the state's beaches and coastal environment by introducing a ban on seabed petroleum and mineral mining off the NSW coast. This move makes NSW the first state in Australia to prohibit seabed petroleum and mineral exploration and mining, showcasing a commitment to safeguarding marine ecosystems. The Environmental Planning and Assessment Amendment (Seabed Mining and Exploration) Bill 2024, which received bipartisan support in the NSW Parliament, amends the Environmental Planning and Assessment Act 1979 to enforce the ban. The legislation prohibits seabed petroleum and mineral exploration and recovery in…
As project economics rebound, upstream FIDs to increase in 2024, with focus on deepwater resources

Surge in upstream projects expected for 2024

15 Mar, 2024
Wood Mackenzie's latest report indicates a potential increase in upstream projects reaching final investment decision (FID) in 2024, with up to 30 projects larger than 50 million barrels of oil equivalent (boe) expected to progress, compared to 22 in 2023. The report, titled Class of 2024: benchmarking this year’s upstream FIDs forecasts heightened project activity this year, with a total investment of $US125 billion and the potential for 14 boe to be sanctioned. Wood Mackenzie Principal Analyst Ross McGavin highlighted: "With many projects delayed or postponed, we expect operators to commit to more projects in 2024 than last year." National…
Europe gas prices to fall due to high 2024 storage levels

Europe gas prices to fall due to high 2024 storage levels

15 Mar, 2024
According to a new report by Wood Mackenzie, gas prices in Europe could drop to as low as US$6.70 per million British thermal units (mmbtu) in the summer, as storage levels are expected to remain above 55 per cent due to the mild winter. The report, titled Europe gas and power markets short-term outlook Q1 2024 notes that the mild European winter, the second in succession, will lead to European storage levels reaching 89 per cent by the end of July 2024, which will further push prices down. Wood Mackenzie Director of Europe Gas & LNG Markets Mauro Chavez explains:…
Transmission pipelines to lead US midstream projects in 2024 to 2028: GlobalData

Transmission pipelines to lead US midstream projects: GlobalData

13 Mar, 2024
The transmission pipelines segment is expected to dominate upcoming US oil and gas midstream projects by 2028, representing about 47 per cent of the projects between 2024 and 2028. These pipelines are critical components of the midstream sector, linking production areas to refineries, distribution centres, and export ports. They are known as "trunk" or "transmission" pipelines because they are the primary vessels of the pipeline network, transporting vast volumes of materials over long distances. According to GlobalData, 186 midstream projects are projected to start operations in the US during this period, with the trunk/transmission pipelines segment accounting for 87 projects,…
Petroleum production declines in Australia

Australian petroleum production declines after peaking in 2022

12 Mar, 2024
According to the recently released EnergyQuest quarterly March 2024 report, Australia's petroleum production peaked in 2022 and fell by 18 million barrels of oil equivalent in 2023. EnergyQuest links the drop in Australian production to a lack of discovery for new resources, claiming that the frontier spirit of exploration in Australia is waning as corporations are concerned about risks, expenses, and the necessity of exploration. Producing greener, low-carbon products is increasing internationally, but EnergyQuest draws a lesson from the nickel industry: obtaining a green premium from consumers is extremely difficult, despite greater prices. Green hydrogen is struggling with increased costs…