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Australia

Asia

CCS will not save Santos’ Barossa LNG project, says IEEFA

Despite a proposed carbon capture and storage (CCS) scheme, the Santos-led (ASX:STO) Barossa liquefied natural gas (LNG) project in Australia, will continue to release financially risky carbon dioxide emissions onsite, onshore and across the supply chain. This makes it one of the more expensive and dirtiest gas projects in the world, according to a new report from the Institute for Energy Economics and Financial Analysis (IEEFA).

Asia

Bernstein bets on Woodside as tight LNG market looms

Investment research firm Bernstein has named Australian liquefied natural gas (LNG) developer Woodside (ASX:WPL) as its “best idea” for the fourth quarter 2021 as prices surge and the Asian market tightens. Significantly, Woodside is one of the most exposed LNG suppliers to the spot market.

Renewables/Energy Transition

Indonesia approves path for record breaking Australia-Singapore subsea cable project

Indonesia has approved the subsea route for what could be the world’s first intercontinental power grid, connecting Australia to Singapore, with 24/7 renewable power. The official nod means Sun Cable’s ambitious project, that proposes the world’s largest solar farm, the world’s biggest battery, and the world's longest undersea cable, has moved a step closer to reality.

Australasia

Big gas discovery bodes well for Australia’s Perth basin

Australian junior Norwest Energy (ASX:NEW) recently announced a large gas discovery in the onshore Perth basin in Australia. The news bolsters recent analysis from consultancy Rystad Energy that suggests conditions are ripe for a significant development opportunity, with the basin potentially emerging as a key source of gas supply in Western Australia.

Asia

BHP decommissioning bill pegged at $3.9bn

BHP Group will transfer some $3.9 billion worth of oil and gas decommissioning liabilities to Woodside if the pair’s merger goes through successfully. The liability is much smaller than expected helping to ease investor concerns at Woodside.

Asia

Sembcorp wins Dorado FPSO work

Singapore’s Sembcorp Marine will carry out front-end engineering design (FEED) work for the floating production, storage and offloading (FPSO) facility that will form part of Santos’ Dorado development offshore Australia.

Asia

Carbon capture and the future of LNG in Asia

Carbon capture and storage (CCS) will play an important role in decarbonising liquefied natural gas (LNG), but the pace of progress remains too slow, writes Gavin Thompson, Asia Pacific vice chair, Wood Mackenzie.

Asia

BHP ordered to clean up fields offshore Australia

Australia’s offshore environment and safety regulator NOPSEMA has ordered BHP to clean up three offshore fields following years of “limited action” and equipment sinking to the seabed, reported BoilingCold. This will add to the decommissioning burden Woodside will inherit if it absorbs BHP’s oil and gas assets as part of a deal announced last month.