ADNOC has ‘substantially completed' work on Santos bid, wins extension
The extension until August 22 comes amid persistent speculation whether the Middle Eastern sovereign bidder will be able to secure approval from the Foreign Investment Review Board for the acquisition of Australia's second-biggest oil and gas producer.
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Sydney Morning Herald
2 days ago
- Sydney Morning Herald
One of Australia's biggest gas producers says more of it needs to stay home
The largest producer of liquefied natural gas (LNG) on the east coast of Australia wants the federal government to force east coast producers shipping gas overseas to set some aside for local use. In a submission to the government's review of the nation's gas market, Australia Pacific LNG (APLNG) says an export licensing and permitting regime that guarantees supply for the domestic market is the best way to tackle concerns around looming supply shortfalls and higher prices. The proposal, to be submitted to the government's review on Friday, comes amid widespread fears of gas supply shortages in Victoria and NSW which the Australian Competition and Consumer Commission warned could occur by the winter of 2028, and long-running concerns that too much gas is being shipped overseas instead of kept onshore. APLNG – a joint venture between Australia's Origin Energy, US giant ConocoPhillips and China's Sinopec – said it was crucial a new market framework discouraged producers buying gas from the domestic market to ship overseas. 'All east coast LNG producers have a role to play to support the domestic market; however, east coast LNG producers alone cannot be the solution for the entire projected shortfall in southern gas supply,' according to the APLNG submission, seen by this masthead. Loading 'Without fundamental reform that delivers equitable domestic supply obligations across all east coast LNG producers, the existing instruments will continue to make projected future shortfalls worse by discouraging investment. A reformed policy framework must address LNG producer purchases from the domestic market for export. They should have to equitably contribute gas for Australian jobs and power generation.' While most of Queensland's gas is locked into long-term export deals and sold as LNG to buyers in Asia, APNG and the Shell-backed QCLNG joint venture are also key suppliers of east coast domestic gas, together accounting for about 40 per cent of the market. The state's third LNG exporter, the Santos-backed GLNG business, however, is a net withdrawer of domestic gas to meet its export commitments.
The Age
2 days ago
- The Age
One of Australia's biggest gas producers says more of it needs to stay home
The largest producer of liquefied natural gas (LNG) on the east coast of Australia wants the federal government to force east coast producers shipping gas overseas to set some aside for local use. In a submission to the government's review of the nation's gas market, Australia Pacific LNG (APLNG) says an export licensing and permitting regime that guarantees supply for the domestic market is the best way to tackle concerns around looming supply shortfalls and higher prices. The proposal, to be submitted to the government's review on Friday, comes amid widespread fears of gas supply shortages in Victoria and NSW which the Australian Competition and Consumer Commission warned could occur by the winter of 2028, and long-running concerns that too much gas is being shipped overseas instead of kept onshore. APLNG – a joint venture between Australia's Origin Energy, US giant ConocoPhillips and China's Sinopec – said it was crucial a new market framework discouraged producers buying gas from the domestic market to ship overseas. 'All east coast LNG producers have a role to play to support the domestic market; however, east coast LNG producers alone cannot be the solution for the entire projected shortfall in southern gas supply,' according to the APLNG submission, seen by this masthead. Loading 'Without fundamental reform that delivers equitable domestic supply obligations across all east coast LNG producers, the existing instruments will continue to make projected future shortfalls worse by discouraging investment. A reformed policy framework must address LNG producer purchases from the domestic market for export. They should have to equitably contribute gas for Australian jobs and power generation.' While most of Queensland's gas is locked into long-term export deals and sold as LNG to buyers in Asia, APNG and the Shell-backed QCLNG joint venture are also key suppliers of east coast domestic gas, together accounting for about 40 per cent of the market. The state's third LNG exporter, the Santos-backed GLNG business, however, is a net withdrawer of domestic gas to meet its export commitments.
Canberra Times
3 days ago
- Canberra Times
More than a climate fix: carbon capture opponents shouldn't have such a blinkered view
What it didn't mention is that an Australian CCS project that only opened late last year, the Santos-led facility at Moomba in South Australia, has already successfully stored one million tonnes of carbon dioxide (CO2). Having operated as designed since being switched on, Moomba has the capacity to safely and permanently store 1.7 million tonnes of CO2 each year, the equivalent of taking 700,000 petrol cars off the road.
