LNG

Beach Energy Ltd, the Australian company involved in the Waitsia LNG export project in the onshore Perth Basin of Western Australia and in other natural gas ventures in South Australia and New Zealand, has embarked on a strategic review involving job losses and an executive overhaul.

Feb 26 (LNGJ) - Santos, the Australian and Papua New Guinea LNG plant shareholder and operator, has secured finance for the company’s share of the US$220 million Moomba carbon-capture and storage (CCS) project in South Australia. The facilities, arranged over five years and totalling US$150M, will be used to cover project costs incurred to date and to use as the project progresses to the first carbon injection targeted for mid-2024.

   Santos said the willingness of banks to fund energy transition projects at very competitive rates indicated their recognition of CCS as a vital tool to control carbon. “The strong support Santos has received is underpinned by the progress we are making focused on reducing our own emissions and those of our customers, as well as on developing low-carbon fuels as customer demand evolves,” said Santos Chief Executive Kevin Gallagher.

Australian energy company Santos reported solid annual and quarterly earnings with steady cargo flows from Gladstone LNG in Queensland and from Papua New Guinea while legal hold-ups were removed to push forward with bringing new feed-gas to Darwin LNG from where only one cargo was shipped in the fourth-quarter.

Australian liquefied natural gas operator Santos has yet to detail any additional progress in its merger talks the Australian peer Woodside Energy for a combination valued at A$88 billion (US$58Bln), though has made advances on the Barossa gas project for Darwin LNG and signed deals with two Japanese companies for the Moomba carbon-capture and storage venture.

Santos Chief Executive Kevin Gallagher told the Australian Petroleum Production and Exploration Association conference in Adelaide that Australia would soon be taking emissions from natural gas production and heavy industries as a world leader in carbon management services.

Beach Energy increased sales in the fiscal first half and was on scheduled to have first natural gas from an LNG feed-gas project in Western Australia and first gas from an East Coast venture while the company painted a gloomy picture of the energy business in New Zealand.

Sept 5 (LNGJ) - Australian energy company Santos, a major shareholder in the Darwin and Gladstone LNG plant in Australia and Papua New Guinea LNG, has been awarded permits to undertake evaluation and appraisal work for the potential storage of carbon dioxide in the offshore Carnarvon and Bonaparte basins, off the coast of Western Australia.

   The permits will enable Santos to pursue potential carbon capture and storage (CCS) opportunities with its joint venture partners. Santos Chief Executive Kevin Gallagher, said the permits allow the potential to yield additional CCS opportunities. The first Santos CCS project at Moomba in south Australia will be one of the biggest in the world and is currently 20 percent complete with 100 million tonnes of CO2 capacity and contingent resources already booked.

Australian liquefied natural gas plant operator Santos, which has plant and project stakes in Queensland and in the Northern Territory as well as in Papua New Guinea, reported a jump in LNG sales revenues to US$1.116 billion from US$427 million in the same three months of 2021.