LNG

Jan 25 (LNGJ) - Beach Energy of Australia reported a 37 percent increase in quarterly sales revenue of A$544 million (US$358M), mainly due to the sale of the first Waitsia LNG project cargo from the onshore gas project in the Perth Basin of Western Australia and the one-off sale of a condensate shipment from the Waitsia venture with Mitsui of Japan. “Production and stored volumes from the Xyris Gas Plant, together with third-party surplus gas sourced via a swap arrangement, enabled processing and lifting of the first Waitsia LNG cargo at the North West Shelf plant (tolling) in December 2023,” said Beach.

   “Beach acquired Mitsui’s 50 percent share and sold the cargo to BP under the terms of the previously announced LNG sales and purchase agreement with BP. The cargo delivered revenue of A$96 million and net cash proceeds to Beach of A$49M after purchase of Mitsui’s share,” said Beach. “As we work toward commissioning of the Waitsia Gas Plant, we look forward to selling regular LNG cargoes into the global market,” said Chief Executive Bruce Clement.

Oct 18 (LNGJ) - Beach Energy of Australia has made a natural gas discovery at the Tarantula Deep 1 well in the onshore Perth Basin of Western Australia where an LNG project is being developed. The Tarantula Deep 1 reached total depth of 4,121 metres and is a second recent discovery by Beach.

   The company said the well would be suspended to allow for future development of the discovery. “Two gas discoveries from our first three operated exploration wells is a great start to the campaign,” said Interim Chief Executive Bruce Clement. “The results at Tarantula Deep 1 have improved our understanding of the Kingia reservoir extent in the Beharra Springs area and give us greater confidence in future development and near-field exploration,” Clement added.

Oct 19 (LNGJ) - Beach Energy, the Australian exploration and production company, said its work programme was progressing on the Waitsia gas field in the onshore Perth Basin of Western Australia towards first LNG sales in the second half of 2023 to BP of the UK for five years. The Waitsia gas project is a joint venture with Mitsui of Japan.

   “On the West Coast, we will soon be the newest entrant to the global LNG market. This revenue stream will be transformational for Beach and provide fast payback of the project’s capital outlay,” said the company in a quarterly activities report. Pro-forma sales revenue for the first fiscal 2023 quarter to the end of September 2022 amounted to A$437M (US$275.4M), an increase on the prior-year quarter’s A$388M.

Mineral Resources Ltd (MRL) of Australia said it had made a “significant” natural gas discovery in the onshore Perth Basin from where other gas producers are planning LNG production and exports.

Beach Energy of Australia, the company destined to be the nation’s newest liquefied natural gas exporter from Western Australia, has solved some of the natural gas shortages in southeast Australia with a double gas discovery in the offshore Otway Basin in the state of Victoria.

Jan 29 (LNGJ) - Woodside Petroleum, the Western Australia LNG plant operator, said one of its subsidiaries, Woodside Burrup Pty Ltd, and the North West Shelf (NWS) LNG shareholders have finalised arrangements with the State Government enabling the supply of Pluto LNG feed-gas, via an interconnector pipeline, for processing at the NWS Karratha Gas Plant (KGP).

   “Connecting the Pluto and NWS facilities accelerates the production of offshore Pluto gas and provides flexible access to emerging LNG processing capacity. The Pluto-KGP interconnector is the first step in realising our vision for a regional LNG hub on the Burrup Peninsula,” said Woodside Chief Executive Peter Coleman.

Australian Gas Infrastructure Group (AGIG) said its final plan for Western Australia's Dampier-to-Bunbury natural gas pipeline for the 2021 to 2025 period was focused on providing excellent service and low costs.