Latest news with #gasexploration
The Guardian
6 days ago
- Business
- The Guardian
Environmentalists condemn ‘devastating' move to open nine new gas exploration areas in Queensland
The Queensland government has opened nine new areas for gas exploration across 16,000 sq kilometres in a step environmentalists say will only worsen the climate crisis. The state's natural resources minister, Dale Last, said the move would make Queensland more attractive for gas industry investment and would help bring down gas prices and ease the supply pressures on the east coast. The government said it was also starting a three-month review into the way exploration areas were identified and then released for tender, to make the process more efficient. Opened up for tender from tomorrow will be nine areas across the Cooper-Eromanga basin in the south-west and the Bowen-Surat basin in the state's centre. Land releases would not overlap with areas in the Channel Country region where flood plains and rivers have been protected from further oil and gas extraction. The areas open for tender from Thursday include conventional gas and places where more technically challenging reserves might require hydraulic fracturing. Sign up for Guardian Australia's breaking news email Last said: 'The best way to bring down energy prices is to have more energy in the market, and that starts with exploration. 'These steps are about unlocking new supply, securing an investment pipeline and getting the right policy settings in place so Queensland can lead the way on energy security.' Gas industry group Australian Energy Producers said the move would be a 'critical step' in securing future gas supplies. Last week, the Crisafulli government rejected a proposal for a $1bn windfarm that would have provided enough clean power for about 260,000 homes. The government said its decision was based on a rejection of the proposal by 88% of residents and a local council. Dave Copeman, the director of the Queensland Conservation Council, said the announcement was 'devastating and deceitful'. He said: 'The government should be ashamed to look Queenslanders impacted by climate-fuelled disasters in the eye and pretend that they care while greenlighting new fossil fuel projects that will only turbocharge these impacts on our communities and country.' Sign up to Breaking News Australia Get the most important news as it breaks after newsletter promotion He said federal data suggested there was enough gas in just the Bowen Basin to release more than 1bn tonnes of CO2 if it was all extracted and burned. 'That's more extra climate pollution than the total Queensland can release between now and 2035 if we are to meet our emissions reduction targets. And this is only one of the four basins mentioned in today's low detail announcement.' He questioned whether the gas would make it to the domestic market, as no company was planning to pipe gas south from the Bowen basin to Victoria. Ellen Roberts, the national coordinator for climate campaign group Lock the Gate, said the announcement 'will only benefit multinational gas companies, not the people of Queensland'. She said there were already 16,000 gas wells drilled in Queensland that put groundwater relied on by farmers and communities at risk. 'We need an urgent moratorium on the gas expansions in Queensland to prevent further damage to land, water and our climate,' she said.
News.com.au
26-05-2025
- Business
- News.com.au
Investors lose confidence in Australian gas
A report by Australian Energy Producers has found investments in Australia's gas exploration and production have declined. Global gas investments have increased by almost 30 per cent over the past five years, Australia's eclipsed just 15 per cent. The Australian has revealed 95 per cent of executives surveyed believe Australia is a less attractive place to invest than it was in 2020. This is because of Labor's intervention in the gas market, which industry leaders say has made Australia a riskier and less predictable place to do business.
Trade Arabia
21-05-2025
- Business
- Trade Arabia
QatarEnergy CEO urges energy investment for fair oil prices
Saad Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, called for continued investments in energy projects, stressing that a fair oil price will ensure sustained production and to ensure additional reserves. He made the remarks at the Qatar Economic Forum 2025, during a panel discussion on 'Global Energy Supplies & Security' with the participation of Ryan Lance, the Chairman and Chief Executive Officer of ConocoPhillips. Minister Al-Kaabi added: 'We need somewhere in the range of 70 to 80 dollars, in my view, to be able to sustain the current production and increase. If you don't have additional investment to sustain that needed energy, it is going to be damaging and will cause shortages in supply.' He asserted the need for more energy to help growth across the world saying: 'We are going to have 1.5 to 2 billion people on this earth in the next 20 to 30 years. And we have one billion people around the world today that don't have basic electricity. So, the need for electricity and power is huge. We are not worried at all about having a supply glut.' Speaking on gas exploration investments, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy said: 'We are one of the world's largest companies in terms of having rights to exploration blocks around the world. We have been successful in some regions, but this is a continuous drive to explore more, and we're really participating in new exploration blocks around the world. I'm optimistic about the future, but it takes time.' In his remarks on the outcome of the recent visit by President Donald Trump to Qatar, He highlighted a number of Qatari-US energy partnerships including the Golden Pass LNG export project and the Golden Triangle Petrochemicals plant with the world's largest ethane cracker. He added: 'We had several deals signed during the visit. From my vantage point as chairman of Qatar Airways, we had a tender to expand our fleet, and Boeing gave us the best deal and was better than airbus. We went ahead with that deal because it was the most commercially viable.' Answering a question on whether Qatar was pressured to sign those deals, He said: 'President Trump is a businessman first and foremost and he understands business very well. We've had American companies here for the last 70 years. So, regarding pressuring us to do deals, I would say no. There was no pressure, and we're happy to do deals where they are mutually beneficial.' Minister Al-Kaabi recognised the tremendous growth of QatarEnergy Trading and its future growth. He said: 'Trading was something we started just a few years back. We are now trading around 10 million tons of LNG in physical trading. We will be producing 160 million tons of LNG, if you include the US, and we have 70 LNG ships in our fleet today and we will be adding 128 ships in a few years. So, all that will help our trading to thrive.' Discussing relations with Asia, and particularly China and India, Minister Al-Kaabi said: 'We have a great relationship with China. We are the largest supplier to China, and they are Our biggest buyer. They are discussing with us additional volumes, and so is India, as well many other countries.' Responding to a question of the 'incredible profits' achieved by Qatar Airways, Minister Al-Kaabi, the Chairman of Qatar Airways, said: 'We owe this excellent profit to the company's outstanding leadership and staff .. all the pilots, crew members, and ground staff. Everybody working in the company has contributed. And, of course, first and foremost, are our loyal clients who made this also possible. We will need to keep going with the same rhythm to ensure that we can continuously have good profits.' On the introduction of Riyadh Airlines to the region's aviation sector. Minister Al-Kaabi said: 'We are very happy for our brothers and colleagues in Saudi Arabia that they are embarking on this expansion in the airline business. Saudi Arabia is a big country with a large population. And, if there's anything we can do in Qatar Airways to support Saudi Arabia we'd be happy to do that. We wish them all the success.'
Zawya
21-05-2025
- Business
- Zawya
QatarEnergy CEO urges energy investment for fair oil prices
Saad Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, called for continued investments in energy projects, stressing that a fair oil price will ensure sustained production and to ensure additional reserves. He made the remarks at the Qatar Economic Forum 2025, during a panel discussion on 'Global Energy Supplies & Security' with the participation of Ryan Lance, the Chairman and Chief Executive Officer of ConocoPhillips. Minister Al-Kaabi added: 'We need somewhere in the range of 70 to 80 dollars, in my view, to be able to sustain the current production and increase. If you don't have additional investment to sustain that needed energy, it is going to be damaging and will cause shortages in supply.' He asserted the need for more energy to help growth across the world saying: 'We are going to have 1.5 to 2 billion people on this earth in the next 20 to 30 years. And we have one billion people around the world today that don't have basic electricity. So, the need for electricity and power is huge. We are not worried at all about having a supply glut.' Speaking on gas exploration investments, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy said: 'We are one of the world's largest companies in terms of having rights to exploration blocks around the world. We have been successful in some regions, but this is a continuous drive to explore more, and we're really participating in new exploration blocks around the world. I'm optimistic about the future, but it takes time.' In his remarks on the outcome of the recent visit by President Donald Trump to Qatar, He highlighted a number of Qatari-US energy partnerships including the Golden Pass LNG export project and the Golden Triangle Petrochemicals plant with the world's largest ethane cracker. He added: 'We had several deals signed during the visit. From my vantage point as chairman of Qatar Airways, we had a tender to expand our fleet, and Boeing gave us the best deal and was better than airbus. We went ahead with that deal because it was the most commercially viable.' Answering a question on whether Qatar was pressured to sign those deals, He said: 'President Trump is a businessman first and foremost and he understands business very well. We've had American companies here for the last 70 years. So, regarding pressuring us to do deals, I would say no. There was no pressure, and we're happy to do deals where they are mutually beneficial.' Minister Al-Kaabi recognised the tremendous growth of QatarEnergy Trading and its future growth. He said: 'Trading was something we started just a few years back. We are now trading around 10 million tons of LNG in physical trading. We will be producing 160 million tons of LNG, if you include the US, and we have 70 LNG ships in our fleet today and we will be adding 128 ships in a few years. So, all that will help our trading to thrive.' Discussing relations with Asia, and particularly China and India, Minister Al-Kaabi said: 'We have a great relationship with China. We are the largest supplier to China, and they are Our biggest buyer. They are discussing with us additional volumes, and so is India, as well many other countries.' Responding to a question of the 'incredible profits' achieved by Qatar Airways, Minister Al-Kaabi, the Chairman of Qatar Airways, said: 'We owe this excellent profit to the company's outstanding leadership and staff .. all the pilots, crew members, and ground staff. Everybody working in the company has contributed. And, of course, first and foremost, are our loyal clients who made this also possible. We will need to keep going with the same rhythm to ensure that we can continuously have good profits.' On the introduction of Riyadh Airlines to the region's aviation sector. Minister Al-Kaabi said: 'We are very happy for our brothers and colleagues in Saudi Arabia that they are embarking on this expansion in the airline business. Saudi Arabia is a big country with a large population. And, if there's anything we can do in Qatar Airways to support Saudi Arabia we'd be happy to do that. We wish them all the success.' The Qatar Economic Forum, Powered by Bloomberg, is the Middle East's leading news-driven event dedicated to global business and investment. The Forum convenes global leaders to provide new and unique perspectives on the issues driving boardroom conversations. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
