LNG

The Australian Government plans to extend a natural gas price cap through mid-2025 while seeking to relax its attitude towards LNG exporters who have already agreed to domestic gas supply commitments.

Wood Mackenzie, the energy and LNG consulting firm, has acquired another UK consultancy, the privately-held Roskill, a leading player in fields of metals and materials supply chain intelligence for the energy transition.

“Combining Roskill’s capabilities with Wood Mackenzie reinforces our ability to provide comprehensive, integrated analysis across the energy, and metals and mining value chain,” said Neal Anderson, President of Wood Mackenzie.

“In particular, Roskill adds market-leading analysis, data, and insight on battery raw materials metals, which are an integral component of the energy transition,” stated Anderson.

Wood Mackenzie is based in Edinburgh in Scotland and was itself acquired by Nasdaq-listed US firm Verisk in 2015.

Verisk said that Valerie Purvis has expanded her leadership remit and will be assuming the role of Global Head of Metals and Mining, including Roskill.

This appointment is in addition to her current responsibility as Global Head of the Chemicals business, which she has led for the last three years.

Commenting on the addition of Roskill, Purvis said that in her opinion said the “green” growth stimulus packages and commitments to net carbon neutrality by many of the major economies and major companies are increasing the pace of the energy transition.

“Integrated, in-depth analysis of the value chain for these metals and materials is crucial to understanding the transition,” added Purvis.

“I’d like to welcome the Roskill team as we add to the depth and breadth of the analysis, data and insight we provide for our customers as they evolve,” she stated.

Wood Mackenzie said in its most recent presentation at a conference in Australia that Australian producers should be at the forefront of “green LNG”, a form of cargo trading that includes offsets for environmental projects.

Wood Mackenzie senior analyst Daniel Toleman said that countries with carbon neutrality pledges now account for 30 percent of the global gas demand and 75 percent of LNG demand.

The list includes some of Australia’s largest LNG customers such as Japan and South Korea.

“In addition, faced with new and lower-cost LNG supply coming online over the next decade from Qatar and Russia, Australian producers must do more to avoid losing market share,” explained Toleman.

“As the world’s largest LNG supplier in 2020 and a jurisdiction leading the push to decarbonise, Australia can be a frontrunner in green LNG,” he stated.

However, other analysts have noted that faddish “green LNG” cargoes accounts for only a small share of the global LNG market, less than 1 percent of delivered cargoes, including in 2021.