Markets Commodities

Time to face the facts on the need for natural gas

Gas has never been more important to Australia’s prosperity, but it has also never been so aggressively challenged.

The Australian LNG sector needs to evolve, and do so quickly, if producers are to become accomplished marketers and traders in the global market, according to a new Deloitte report.

The Australian Energy Regulator (AER) has cut gas distribution charges by 23 per cent on Australian Gas Networks’ (AGN) South Australian Access Arrangement for the five-year period commencing on 1 July 2016.

Prices of spot LNG for delivery to northeast Asia averaged $5.339 per million British thermal units (/MMBtu) for March, according to latest Platts Japan/Korea Marker data for month-ahead delivery.

Oil price solution to be focus at LNG 18

Lower oil prices and their impact on the world’s LNG industry are looming large as a hot topic at the upcoming biggest LNG conference and exhibition ever held in Australia.

Santos writes down assets amid oil price downturn

Santos will book reductions to both asset carrying values and reserves as part of its 2015 full-year financial accounts, in a reflection of the further deterioration in oil prices.

Wood Mackenzie's latest review of the global LNG industry has concluded that the market was characterised by weak Asian demand in 2015, with a year on year decline of 2 per cent.

Global LNG supply in 2016 is forecast to increase to 289 million tonnes (MMt), a 12 per cent increase from 2015, due to an increase in supply capacity from Australia and the US – according to the Resources and Energy Quarterly.

Total annual LNG consumption in Australia is forecast to be four times as much in 2020 as it has been in 2015 according to the Australian Energy Market Operator’s (AEMO) second annual National Gas Forecasting Report (NGFR).

Top gas executives and energy experts weigh in on oil price debate

Gas Today asks gas executives and energy experts why the low oil prices will not reverse the Australian gas industry’s progress over the last few years.

How Australia’s gas industry fared in 2015

How have gas prices in eastern Australia responded over the 12 months since the start-up of the Queensland Curtis LNG project on Curtis Island, and in the...

Where to now for Australian LNG exports?

Westpac Global Head of Market Strategy Robert Rennie and Westpac Senior Economist Justin Smirk recently published research that directly counters the oil price scare campaigns of the mainstream media.

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