There’s arguably better money in Squadron parking its floating storage unit in Egypt longer than repatriating it to Australia, where gas supply is projected to tighten significantly later this decade.
Equinor, one of the world’s largest offshore wind developers, has asked for another three months to decide whether it wants to invest in an Australian project.
Chevron Australia’s new managing director Balaji Krishnamurthy says Australia possesses resources that are the envy of the world, but hasn’t yet realised its potential.
The move represents a stark turnaround for the Labor-led government, which has historically taken a combative stance on gas development.
More than 80 per cent of Australia’s low-carbon hydrogen projects remain in their early development stages, and multiple high-profile proposals have been scrapped in recent years.
Environmentalists are using legal avenues to inhibit gas production, which has drawn the ire of the fossil fuel industry. This time, Market Forces has accused Empire Energy of flouting continuous disclosure laws.
Kevin Gallagher’s remarks show mounting frustration with Victoria’s aggressive stance on fossil fuels, even as the state remains reliant on gas to power industry and heat homes.
Santos chief Kevin Gallagher says the oil and gas industry is frustrated by political and investor pressure to accelerate decarbonisation in a market which favours hydrocarbons.
Queensland has emerged as the last bastion for gas producers in Australia, with the state government to create nine new areas for exploration as an acute energy shortage looms over the east coast.
Resources Minister Madeleine King told Australia’s gas industry to temper its public attacks on government policy and instead engage in constructive dialogue with the re-elected Albanese government.
Original URL: https://www.theaustralian.com.au/author/colin-packham/page/2