Australia’s largest energy exporters are facing falling revenue as weak demand and healthy stockpiles send benchmark LNG prices sharply lower.
Demand for gas has roared back to life as Prime Minister Anthony Albanese’s Labor government has tightened the screws on producers.
The Coalition’s objections to proposed gas tax changes could force Labor to cut another deal with the Greens,Treasurer Jim Chalmers has warned.
Eni is working to get its Evans Shoal gas field,which is comprised almost one-third of carbon dioxide,off the ground by December.
Australian gas giant Santos has signed non-binding deals with four heavy polluters to bury their emissions in depleted gas reservoirs beneath the Timor Sea.
Santos says its $9.6 billion Barossa gas project can still start up on time despite Indigenous heritage concerns halting offshore construction.
Australia’s biggest natural gas exporters are heading for steep falls in commodity prices as energy shortage fears continue to ease.
Massive emissions with a questionably viable solution,construction delays,Indigenous culture clashes,a dispute with a US oil major - Santos Barossa project is generating heat well before it produces any gas.
Experts predict the government’s climate policy will boost investor confidence in controversial carbon capture technology,but industry is calling for public subsidies.
The oil and gas explorer says the controversial method of storing carbon underground is crucial to ensuring tougher emissions targets do not drive up energy bills.
Traditional owners have launched human rights complaints against a dozen banks over a $1.5 billion loan to Santos’s gas project in the Timor Sea.