Premium Content
Subscriber only
Re-authorising Curtis Island LNG operations is being examined to permit three companies to continue production, storage and exports for another five years.
The Australian Competition and Consumer Commission ACCC is examining a proposal to discuss and co-ordinate the maintenance schedules, maintenance providers, and maintenance techniques of Australia Pacific LNG Pty Ltd, Gladstone LNG, and the Queensland Curtis LNG projects.
The re-authorisation would prevent producers trading advantageously in gas markets, because each would know when maintenance is going to occur, as operators must adhere to ACCC conditions.
Curtis Island plant operators, who convert natural gas into LNG are connected to gas wells in the Surat and Bowen basins, also purchase gas from wholesale markets.
Premium Content
Subscriber only
Global energy giant Shell has announced it is slashing between 7000 and 9000 jobs worldwide, including a number of its about 1200-strong Queensland workforce.
Speculation 181 jobs will be cut from Shell QGC operations at Gladstone and around the state are inaccurate, according to a Shell spokeswoman.
The news comes as worldwide demand for LNG throughout remains solid, increasing from 358 million tonnes in 2019, to 360 million tonnes in 2020, according to Shell’s annual LNG outlook.
Prices of LNG globally hit a record low early in the year but ended the 12-month period at a six-year high as demand in parts of Asia recovered and winter buying increased against tightened supply.
The short term future of Gladstoneâs Liquefied Natural Gas industry has been secured after Prime Minister Scott Morrison signed agreements with local industry heavyweights.
The agreements, signed between the Australian government and operators of Gladstone Liquefied Natural Gas exporters, secure both domestic gas and exports.
Independent energy market analyst Energy Quest detailed the agreement, plus more relating to the Gladstone LNG industry in a recent report.
âPrime Minister Scott Morrison has signed a new Heads of Agreement with the operators of the three LNG exporters in Gladstone to ensure adequate domestic gas supply for the next two years as part of the JobMaker plan,â Energy Quest stated.
Premium Content
Subscriber only Despite a new deal to offer cheaper gas to Australia, Prime Minister Scott Morrison doesn t know how much new gas prices will be. On Thursday during his Gladstone visit, Mr Morrison revealed a new Heads of Agreement with east-coast liquefied natural gas (LNG) companies which would bring a boost to the region. Scott Morrison toured the Northern Oil Refinery on Thursday. The agreement, signed by Mr Morrison and LNG exporters Australia Pacific LNG, Queensland Curtis LNG and Gladstone LNG, aims to ensure more gas is offered to the domestic market, more often, and on more competitive terms.