LNG

Australian energy giant Woodside has exercised its pre-emptive right to buy PetroChina’s 10.67% stake in the Browse gas field, blocking a deal with Japan’s Inpex. Browse is meant to underpin a development liking to Woodside’s North West Shelf LNG terminal, whose current gas resources are depleting.

Australia said that liquefied natural gas demand is expected to increase by just under 2.5 percent in 2024, largely driven by the needs of customers in Asia-Pacific nations and by market dynamics in China.

June 13 (LNGJ) - Beach Energy, the Australian exploration and production company and recent LNG player, has successfully connected the Enterprise natural gas field located just offshore Port Campbell in the state of Victoria to the Otway Gas Plant, with first sales gas delivered on June 12, 2024.

   Beach signed a Gas Sales Agreement (GSA) to supply utility company Origin Energy with gas from the Enterprise field until the end of 2026. “First gas from the Enterprise field is a significant milestone in Beach’s target of delivering a material increase in production and free cash flow over the next 12 months,” said Chief Executive Brett Woods, whose company also has a stake in the gas and LNG project onshore the Perth Basin in Western Australia.

Woodside Energy, the leading Western Australian liquefied natural gas plant operator with North West Shelf and Pluto LNG, has boosted the economic prospects of the West African nation of Senegal by achieving first oil from the Sangomar field, Senegal’s first offshore oil project. 

Woodside Energy, the operator of two liquefied natural gas export plants in Western Australia and the Scarborough Gas Project for LNG expansion, is seeking support from shareholders on its climate policies and urging them to attend the April 24 annual general meeting online or in person.

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.

Woodside Energy, the operator of two liquefied natural gas export plants in Western Australia and other oil and gas assets from the US to Africa, said it had three main strategic goals in the years ahead to supply energy as current production is not enough and large new investments are needed to bring additional fields on stream.

Australian liquefied natural gas export revenues hit a record high of A$93 billion (US$60Bln) in the 2022-2023 fiscal year but are forecast to ease to A$71Bln in the current year as the spike in global energy prices set off by the Russia-Ukraine war unwinds.

The Australian Fair Work Commission (FWC), a government-sponsored mediation service in disputes between labor unions and management, has begun talks to avoid the shutdown of the Gorgon and Wheatstone liquefied natural gas export plants in Western Australia with a combined 25 million tonnes per annum of output.

The leading Western Australia liquefied natural gas plant operator Woodside Energy reported a 13 percent drop in second-quarter revenues from a year ago as realised LNG prices dropped along with oil and natural gas production volumes.