Association’s chief urges states to back off fracking inquiries to facilitate greater supply in the east.
The pause on fracking freezes more than A$380 million in investment in new onshore projects, said Stedman Ellis, COO of Australian Petroleum Production and Exploration Association WA.
Global miner BHP Billiton unveiled a board shakeup where controversial director Grant King will step down just six months after his appointment with the company amid oil investments concerns, BHP said on Aug. 23.
Speaking at SEAAOOC, Santos’ Kevin Gallagher said Australia should encourage shale gas development to drive down energy prices.
A legislative move designed to shore up energy supplies will be triggered only when a shortage has been identified and will apply to export operations, Matt Canavan said.
Origin Energy said it increased its share in the undeveloped shale gas prospect to 70%, after purchasing a 35% share from Sasol Petroleum Australia Ltd. It did not disclose a purchase price.
Proposal for coast-to-coast gas pipeline mocked; shipping LNG from west to east called cheaper.
ExxonMobil, Shell promise the government that natural gas will be available for domestic use.
Beach Energy, Santos, Strike and Senex have been named recipients of AU$24 million in grants from the South Australian government.
However, the need for more gas for power has arisen just as three new LNG export plants have opened in the northeast, tripling gas demand and drawing supply out of the domestic market, Reuters reported.