Australia has been crowned the world leader of LNG production, but the local industry can still learn from mature operators in other geographies that have weathered multiple commodity cycles and created an integrated, diversified offshore industry, the AOG 2020 conference is set to be told.
Despite deeming it a slightly outdated term, Deloitte Access Economics Partner Matt Judkins said social license to operate would be one of the biggest considerations for the oil and gas sector in the future.
During AOG 2018 Western Australian Premier Mark McGowan announced the creation of an LNG Jobs Taskforce designed to encourage collaboration across the LNG sector and to benefit those working within it.
With rising demand for liquefied natural gas (LNG), largely driven by growth in China and other Asian nations, the time to capitalise is now, according to Woodside Chief Operations Officer Meg O’Neill.
Perth is the only Australian city to be admitted into the World Energy Cities Partnership, which signifies Western Australia’s continual growth as a world energy leader. However, it’s Western Australia’s reputation as a global liquefied natural gas (LNG) hub that will bring long-term economic benefits to the State.
Timor-Leste is set to become the majority owner of the Greater Sunrise gas field after taking Shell’s 26.56% stake for US$300 million (AUD$415 million) following on from an earlier buy-out of ConocoPhillips’ 30% stake for $350 in early October.
SANTOS has outlined plans to grow production to more than 100 million barrels of oil equivalent (mmboe) by 2025, almost doubling current levels of production.
AS expected, a string of drilling successes off the WA coast has attracted a big suitor to Quadrant Energy, with Santos announcing it will pay US$2.15 billion to acquire 100% of the company a month after it made the huge Dorado oil discovery.
As one of the world’s premier LNG producers Australia is expected to benefit from a major transition to gas in global energy mix.
The Australian Government has continued its commitment to AOG 2018 Principal Sponsor NERA with a significant announcement in the 2018-19 Budget.