LNG

July 5 (LNGJ) - The Australian Competition and Consumer Commission (ACCC) has issued a warning to the nation on East Coast natural gas supplies and the trend for LNG exports. “The long-term supply outlook for gas makes shortfalls possible from 2027,” said the report.

   “The East Coast gas market may experience gas supply shortfalls as early as 2027 unless new sources of supply are made available. The potential emergence of supply shortages is one year earlier than previously reported,” the ACCC warned. The short-term outlook concluded that there was “sufficient gas” for the fourth-quarter of 2024 and early 2025. “There is expected to be enough gas to meet East Coast demand, even if all un-contracted gas of LNG producers is exported,” the report added.

QatarEnergy has signed an agreement for the supply of 7.5 million tonnes per annum of LNG to Petronet of India on a delivered ex-ship (DES) basis for a period of 20 years.

Australia is considering extending the life of the country’s largest coal-fired power plant located in the state of New South Wales and owned by Australia-Pacific LNG stakeholder Origin Energy because of concerns over energy security.

Petronet LNG, the owner of the largest Indian import terminal at Dahej north of Mumbai, reported a record 39 percent surge in fiscal-year revenues, though posted a decline in net profits as regasification volumes rose during the fiscal fourth quarter compared with the previous three months while falling on an annual basis.

Two years after Indian Prime Minister Narendra Modi inaugurated the first Indian East Coast liquefied natural gas import terminal at Kamarajar Port, also known as Ennore, Qatargas has delivered its first and largest commercial cargo as the terminal seeks to boost its capacity utilisation, currently under 12 percent.

A Trans-Australia natural gas pipeline is back on the agenda with supplies being transported from Western Australia to the East Coast instead of, or in addition to, developing LNG import infrastructure and has renewed talk about the undeveloped onshore Australian resources rivalling the US Permian Basin.

Leading Australian utility company AGL Energy posted a large fiscal first-half loss due to impairments but in post-earnings statements the company said it expected to make a final investment decision soon on the liquefied natural gas import project at Crib Point in the southeast Australian state of Victoria.

Dominion Energy’s $9.7 billion deal to sell its gas transmission and gas storage assets to Berkshire Hathaway Energy is a triumph for America’s most celebrated investor Warren Buffett, also known as the Oracle of Omaha, his birthplace in the state of Nebraska.

Cooper Energy, the Australian oil and gas exploration company, is continuing the commissioning of the Orbost gas plant in the southeast state of Victoria from offshore supplies in the Sole gas field of the Gippsland Basin that may limit the needs for future LNG imports to the region.

Royal Dutch Shell’s Australian joint venture Arrow Energy has taken a final investment decision to develop the first phase of Arrow’s Surat Gas project in the state of Queensland to line up more LNG exports for China.