Nation faces multibillion-dollar bill for decommissioning work to replace oil and gas infrastructure
Business by Alexis Carey 10th Mar 2021 7:59 AM | Updated: 4:56 PM A new report has revealed Australia will be hit by a massive, multibillion-dollar problem within the next 10 years - and the time is now to take action. According to the report by Advisian, much of the nation s existing offshore oil and gas infrastructure is so old, it will need to be decommissioned in the years ahead. In fact, there is more than $50 billion of crucial decommissioning work to tackle, with over half of the work needing to be started within the next 10 years and deemed to be urgent .
Nation faces multibillion-dollar bill for decommissioning work to replace oil and gas infrastructure
Business by Alexis Carey 10th Mar 2021 7:59 AM | Updated: 4:56 PM A new report has revealed Australia will be hit by a massive, multibillion-dollar problem within the next 10 years - and the time is now to take action. According to the report by Advisian, much of the nation s existing offshore oil and gas infrastructure is so old, it will need to be decommissioned in the years ahead. In fact, there is more than $50 billion of crucial decommissioning work to tackle, with over half of the work needing to be started within the next 10 years and deemed to be urgent .
Prime Minister Narendra Modi stated yesterday that India is increasing the share of energy from renewable sources. By 2030, 40% of all energy will be generated from green energy sources. CPCL s new Gasoline desulphurisation Unit at its refinery in Manali inaugurated today is another effort for a greener future. The refinery will now produce low sulphur environment friendly fuel of BS VI specification.
Since 2014, the government has brought in various reforms across the Oil and Gas sector covering exploration and production, natural gas, marketing and distribution. Uniformity of tax will lead to reduction of cost of natural gas and increase in its usage across industries. The government is committed to bringing natural gas under the GST regime. It is planned to spend seven and a half lakh crores in creating oil and gas infrastructure over five years. A strong emphasis has been laid on the expansion of city gas distribution networks by covering 407 districts.
Novatek tacks against the headwinds [NGW Magazine]
Feb 10, 2021 10:15:am
Summary The Russian gas producer and LNG exporter has been working to improve its green reputation, and investors have taken note. [NGW Magazine Volume 6, Issue 3]
by: Joseph Murphy
Russia’s leading LNG exporter Novatek has been working to convince increasingly climate-conscious investors of its green credentials.
The company’s investment case is mainly its low costs and firm growth trajectory. Its stock price rose steadily in the years before the coronavirus pandemic, peaking at £21.4 ($29.4)/share in October 2019. Investors were heartened by the speedy and on-budget completion of Yamal LNG’s first three trains between late 2017 and late 2018, as well as Novatek’s final investment decision on Arctic LNG-2 in September 2019.