“We’re not interested in a regulated asset model, not at a fixed 5% return,” he continued. Investors have to be able to cover failures through higher returns on their successes. “We’re looking at returns into the teens on returns.”
The risk to future investment from the Australian Government’s radical intervention in the gas market has been demonstrated, with Senex Energy pausing a A$1 billion (US$674 million) domestic gas supply expansion, involving hundreds of new jobs and millions of dollars of investment in regional communities, according to APPEA.
Woodside Energy has awarded a major contract to Air Liquide Engineering and Construction (Air Liquide) for the liquefaction equipment at its proposed H2OK hydrogen project in Ardmore, Oklahoma, US.
Last month, a satellite flew over the dry, arid landscape of South Australia state’s Cooper Basin and spotted a large cloud of the super potent greenhouse gas methane.
Australia has only one committed hydrogen project out of a vast pipeline of proposals worth A$266 billion ($178 billion), showing the challenge in becoming a major exporter of the zero-carbon but still unproven fuel.
Hastily assembled legal teams. Accusations of Soviet-era policy. Counter jabs about “Putin profits.” Warnings of a threat to future investment.
Australia passed a law to cap domestic prices of natural gas to limit the impact of soaring global costs on local power bills, ignoring protests from the nation’s powerful energy exporters.
BP ventures has made a A$20 million (US$13.6 million) investment in 5B Holdings, an Australia-based renewable energy company, which BP said has technology to enable the rapid deployment of solar power at scale.
Japan has urged Australia to consider its trading partners after gas producers warned they would halt investment if long-term price caps proposed by the government were introduced.
Australia’s Labor government is planning to seize control of domestic gas prices when it introduces extraordinary new legislation to parliament on Thursday in what has been likened to a near nationalisation of gas markets.
East Timor’s President Jose Ramos-Horta said that Australia has shown no signs moving forward with a long-stalled gas pipeline project that runs through the Southeast Asian country, leaving around $100 billion in potential revenue untapped.
Australia will impose a cap on domestic energy prices and provide as much as A$1.5 billion ($1 billion) in energy bill relief to ease cost of living pressures caused by soaring global commodity prices.
Aberdeen headquartered services company, EnerMech, has completed its acquisition of Stork Australia and New Zealand as the firm looks to expand its "global integrity".
Billionaire Andrew Forrest agreed to acquire Partners Group Holding AG-backed CWP Renewables Pty for about a A$4 billion ($2.7 billion) valuation, extending a rush of deal-making focused on Australia’s accelerating shift to cleaner energy.
More than $8 billion worth of gas, power, rail and mining projects across Australia, Mongolia and Papua New Guinea (PNG) face delays following the collapse of engineering company Clough on Monday.
Australian autonomous systems company Abyss Solutions has announced Aberdeen as its new European hub creating up to 30 jobs.
East Timor’s national oil company (NOC) TimorGAP has branded Woodside Energy (ASX:WDS) a “corporate bully” after the Australian LNG developer refused to agree to a production-sharing contract (PSC) that would commit gas from Greater Sunrise to be processed onshore East Timor.
Santos’ (ASX:STO) appeal to restart drilling at its Barossa gas development offshore Australia that is planned to backfill the Darwin LNG export terminal has been dismissed adding further uncertainty and delays for the project.
The chief executive of Australia’s Woodside Energy (ASX:WDS) appears to have made a blunder with her comments that the company is open to revisiting a greenfield LNG export development in East Timor. Significantly, the melodrama around the project will likely continue.
A much-anticipated business event linking key global hubs in Scotland and Australia will return to Aberdeen for the fifth time next week.
Woodside Energy (ASX:WDS) is reconsidering the potential development of Greater Sunrise via an onshore liquefied natural gas (LNG) export terminal in East Timor. This marks a significant about-turn for the Australian LNG developer.
Chevron found almost half of employees and contractors in Australia have been bullied in the past five years and a third experienced sexual harassment, adding to shocking revelations of abuse across the nation’s key resources sector.
Pilot Energy and partner Triangle Energy are among the first in Australia to lodge a submission to seek regulatory approvals for an offshore carbon capture and storage (CCS) project.
Woodside Energy’s (ASX:WDS) latest production guidance for 2023 has fallen short given delays at new oil projects in West Africa and the US, as well as a maintenance shutdown at the Pluto LNG export complex in Australia.
New Zealand’s renewable energy company Meridian has selected Australia’s Woodside Energy (ASX:WDS) as its partner to develop a large-scale hydrogen and ammonia facility at Southland in New Zealand.