LNG

The Australian Labor-led government plans to change the petroleum resource taxes regime to increase the tax paid by the liquefied natural gas industry over the next four fiscal years.

AGL Energy, the largest Australian power company whose plans for an LNG import terminal in the state of Victoria were thwarted by regulators and which fought off takeover interest from various quarters, saw its shares tumble 10 percent after very disappointing results and doubts on strategy.

Australian liquefied natural gas shipments have just been recorded at 81 million tonnes per annum on an annualised basis, keeping the nation ahead of Qatar’s nameplate capacity of 77 MTPA and maintaining its new leadership as the No. 1 global exporter.

The Australian Gas Infrastructure Group (AGIG), one of the nation’s largest natural gas network and transmission companies, has successfully commissioned the Pluto Inlet Station, the new facility connecting the Pluto LNG plant in Western Australia to the Dampier-to-Bunbury Natural Gas Pipeline.

Australian liquefied natural gas revenues have surged because of rising oil prices and strong Chinese demand as gas output for the nation is now edging closer to that of Norway, though domestic political uncertainty is also increasing.

Australian pipeline company APA Group that controls key connections across the country and to LNG export plants has updated shareholders on the A$13 billion (US$9.8 billion) takeover offer it received in June from a Chinese consortium.

Australia’s leading natural gas pipeline company APA Group has overhauled its pipeline services available on its East Coast and Central Region transmission assets to provide customers with more options and additional flexibility amid competition from LNG and concern over prices.

Two Australian exploration and production companies said an independent review had increased by 78 percent the estimated reserves for the Waitsia natural gas field in the Perth Basin of Western Australia, the largest onshore discovery for 40 years and destined for the domestic market.

Norwegian energy company Statoil has committed itself to continuing the deepwater offshore exploration programme in the Great Australian Bight offshore South Australia that was vacated by BP of the UK in October 2016.