More absolute garbage today on gas, via The Australian:
Oil and gas giants Royal Dutch Shell and ExxonMobil have been urged to consider the development of liquefied natural gas import terminals on Australia’s east coast as the race to build the first of the facilities intensifies.
Saul Kavonic, the principal Australasia analyst for international consultancy Wood Mackenzie, said the duo could have the most to gain from developing the new facilities in NSW and Victoria.
According to research set to be released this week, Mr Kavonic said building the terminals would help the duo build trading businesses that currently offer better potential margins than the development of new gasfields.
“Both Shell and Exxon may ultimately have the strongest cases for taking LNG import capacity in the southern states, rather than any gas buyer,” Mr Kavonic said.
Well, der. Both are members of the gas export cartel. So obviously owning the import infrastructure as well would be advantageous. They could throttle the nation completely.
Not that imported LNG is any kind of answer anyway. At $10-12Gj versus $3-4 a few years ago it’s a bad joke.
Just give us domestic reservation. It is the the ONLY answer. That’s why everyone else has it. We need to reserve 200Pj per year of east coast gas that is currently exported, roughly 10% of volumes. If the cartel won’t play ball then make it a fixed price quota.
