Australian LNG

Via Herald Sun: VICTORIANS have suffered the biggest hike in gas prices of anyone in Australia.

Via AFR: As of the end of December, there were 4,417 megawatts of renewables projects under construction around the country, up by almost 500 MW from a month earlier, according to data released on Thursday by Green Energy Markets, an adviser on clean energy.

Oil is dragging its anchor as the USD crashes: One does not have to look far to find who is buying: The massive speculative long is a punt that inventory draw down will accelerate and that US shale will not overdo it this time, via WSJ: U.S.

Gottiboff is at it again today: There is a simple way to put eastern Australia on the track to much lower gas and power prices: appoint Peter Dutton as energy minister for a day.

Some charts today from John Kemp:   Looks like the hot money is all on one side of the boat.

Via Domainfax: Based in the outer Melbourne suburb of Bayside, ANCA is one of an increasingly rare cohort of Australian manufacturers.

Via Reneweconomy: AGL says no private investor would invest in new coal plant, but says battery storage is coming and will be major game changer as costs fall – which may not be far away.

From the AIG: “The ACCC’s latest gas market update confirms that the gas crisis has shifted down a gear since early 2017 – but it also confirms Australian industry’s concerns that we are still far from affordable energy,” Australian Industry Group Chief Executive Innes Willox said today.

Via the ACCC today: This is the second interim report of the Australian Competition and Consumer Commission’s (ACCC) inquiry (‘the Inquiry’) into gas supply arrangements in Australia.

From the always useless manufacturing lobby: The nation’s biggest manufacturers have called for an electricity price target after energy giant AGL said replacing the Liddell coal-fired plant with a green energy mix would need power prices to be higher than they have been recently in NSW for a new plant to be profitable.

From the AFR: AGL Energy has rejected Turnbull government pressure to extend the life of the coal-fired Liddell power station and instead revealed a $1.36 billion plan to replace it with electricity generated from gas, wind, solar and other supply.

Over the coming weeks weeks, MB will roll out a series of primer presentations on various key topics, which are aimed at getting newer readers up to speed, as well as providing an easy-to-digest reference point.

It appears my fears about Arrow development are playing out already, via the AFR: The prospects for developing Arrow’s Surat Basin coal seam gas reserves took a huge step forward on Friday with news of a 27-year contract by Arrow, owned by Shell and PetroChina, to sell gas to the QCLNG venture in Queensland.

You don’t say: Energy giant ExxonMobil​ has not paid a cent in corporate income tax in Australia in at least two years, despite reaping more than $18 billion from the nation’s natural resources, according to three of the company’s workplace unions.

This is potentially good news: Shell has finally paved the way for a multi-billion dollar development of its large Arrow coal seam gas resource in Queensland, inking a 27-year deal for the sale of the gas to its majority-owned QCLNG venture.

Via Domainfax: Australians can safely keep their air conditioners blasting during the summer’s heatwaves after energy operators found extra power to cover shortfalls.

Hmmm… via the ABC: Thousands of Victorians will soon be eligible for a new power rebate from three major companies, under a new deal brokered by the State Government.

Via the AFR: AGL Energy has shrugged off scepticism about its $250 million plan to import gas into Victoria, kicking off an official process to invite LNG players to supply the project.

Quite rightly: US player Harbour Energy’s ambitions for an $11 billion takeover of Santos have run immediately into political hot water, as South Australian Treasurer Tom Koutsantonis signalled the state would seek to prevent the oil and gas producer falling into foreign hands.

Via the AFR: Big American oil is preparing to make a $11 billion all-cash takeover offer for Santos as the next step in play for regional and global relevance in rapidly reforming liquid natural gas markets.

Via The Australian: Queensland is exporting gas at record rates as resurgent oil prices boost LNG contract revenue and a Chinese push to reduce coal-fired power and heating pushes LNG spot prices and medium-term demand forecasts higher.

Via The Economic Times: India will save about Rs 4,000 crore after it got US energy major Exxon Mobil Corp to lower the price of liquefied natural gas (LNG) after the new rates kick-in from January next year.

From The Australian: Gladstone’s big gas export plants pumped out LNG at near record rates last month, drawing gas from as far as Victoria to take ­advantage of resurgent LNG spot prices, despite major maintenance works.