Origin Energy, Australia's hydrogen hub, plans to leave the Hunter Valley
Origin Energy, Australia's largest energy company, announced on Thursday that it will abandon its potential development project for the Hunter Valley Hydrogen Hub in New South Wales. The project is estimated to cost A$207.6 millions ($142.60 Million). The second largest power producer in the country said that it will also cease all work on hydrogen development, but remains open to exploring commercial options for HVHH. Origin stated that the decision to leave the Hunter Valley Hydrogen hub reflects the uncertainty surrounding the timing and pace of development of hydrogen markets…
Floating Wind Leasing Round in the Celtic Sea
The Crown Estate, which manages the seabed around England, Wales and Northern Ireland, has set out further details of a new leasing round for three commercial-scale floating wind projects in the Celtic Sea off the coast of South Wales and South West England. The projects have the potential to deliver enough clean, renewable energy for more than four million homes.In one of the largest initiatives of its kind in the world, sites totalling 4.5GW of floating wind off the coast of South Wales and South West England will be leased across three agreed areas of the Celtic Sea.
Australia's Best Option is LNG Imports
Australia has painted itself into a corner with its natural gas industry and faces the stark reality that there are no easy choices to alleviate the dual problem of a looming supply crunch and the associated higher prices.Australia is far from the first country to find itself with an energy issue, but it is unusual insofar as the country is about to become the world's largest exporter of liquefied natural gas (LNG), and still it can't get its policy settings right to ensure domestic supplies.It sounds counter-intuitive and somewhat bizarre…
Total Taps Warn as Investor Relations SVP
French supermajor Total has appointed Brendan Warn as Senior Vice-President, Investor Relations, effective January 1, 2019. He succeeds Mike Sangster.Prior to joining Total, Warn was Managing Director and UK Head of Equity Research at BMO Capital Markets in London. HE has more than 13 years of experience in equity research across three investment banks including Macquarie Capital and Jefferies International in London. Previously, Warn was an Associate Director at Evans…
FSRU Suppliers Shift from Emerging Markets, Cut Back New Orders
Political instability and low credit ratings in emerging economies are putting some shipowners off ordering new floating storage and regasification units (FSRUs), as they shift focus to more mature gas markets.Liquefied natural gas (LNG) demand from emerging markets in Asia, Africa and South America was expected to be boosted by FSRU technologies that are less expensive and time-consuming than onshore import terminals.But a boom in speculative FSRU orders from shipowners led to an oversupply of units this year as import projects across the world were delayed or cancelled…
LNG Import Terminal Proposed for Australian port
A South Korea-based company has proposed building a terminal on Australia's east coast to import liquefied natural gas, the fifth proposal for such a project in the world's No.2 LNG exporter.The proposals have come after three new LNG export plants on the east coast have sucked gas out of the southeastern market and nearly tripled wholesale gas prices in places such as Sydney over the past two years.EPIK, a newly-formed LNG floating storage and regasification unit (FSRU) project development company…
Hoegh LNG to Supply FLNG Terminal to Australian Import Project
Norway's Hoegh LNG has won a tender to supply a floating LNG import terminal for a consortium aiming to import liquefied natural gas to Australia's east coast from 2020 in a push to boost local supply.Australian Industrial Energy, a consortium that includes Japan's JERA and Marubeni Corp, said on Monday it signed an agreement giving it the right to lease one of Hoegh LNG's floating storage and regasification units (FSRU), to be docked at Port Kembla.The project needs approvals from the state of New South Wales, which is evaluating the proposal on a fast track as "critical state signi
Plans for Another South Australia LNG Import Plant in the Works
A private firm is looking to import liquefied natural gas (LNG) to South Australia starting in 2020, around the same time as two other proposed import projects, looking to fill a supply gap as domestic gas gets sucked into LNG exports.Venice Energy, set up by former BHP Billiton executives, plans to submit a development application to the South Australian government within the next month to park a floating storage and regasification unit (FSRU) in Port Adelaide, Managing Director Kym Winter-Dewhirst said.If regulatory approvals come through by March…
New LNG Import Terminal Planned at Port Kembla
A consortium including Japan's JERA Co and Marubeni Corp aiming to ship liquefied natural gas (LNG) to Australia's east coast has chosen a site south of Sydney at Port Kembla for an import terminal, it said on Monday.The project will allow access to a new gas supply for local industries in New South Wales state by 2020, the consortium, Australian Industrial Energy (AIE), said in a statement.AIE also includes iron ore magnate Andrew Forrest's Squadron Energy. Top global…
To Frack or Not to Frack? Australia's NatGas Dilemma
The decision by the government of Australia's Northern Territory government to allow the resumption of fracking for natural gas will do little to immediately solve the country's energy woes, but will likely sharpen political battle lines. The territory's government said on April 17 that it has lifted a near two-year moratorium on hydraulic fracturing, known as fracking, accepting the recommendations of its own commission of inquiry into the practice. Northern Territory is a vast…
Record Breaker: AAL Delivers for Offshore Wind
AAL reports that it has completed three sailings into Adelaide with 45 windmill blades, turbine generators and other related components on each sailing, destined for the new AGL Silverton Windfarm in the Barrier Ranges of New South Wales. Comprising 58 turbines, the windfarm will produce 200MW (780,000 MWh of renewable energy) each year. At 63 meters in length, the blades carried by AAL are the longest ever to be shipped into Australia. The Silverton Windfarm sailing is…
Rio Tinto recommends Yancoal coal offer over Glencore
Rio says Yancoal deal could be agreed more quickly; says Yancoal has improved offer. Rio Tinto selected Yancoal on Tuesday to buy its Coal & Allied division in Australia for $2.45 billion, surprising commodities trading giant Glencore which had put in a higher bid. Earlier this month, Glencore offered $2.55 billion cash for Rio's coal mines in the Hunter Valley region of New South Wales, beating a previous offer from Yancoal, which is based in Australia and owned by China's Yanzhou Coal Mining Company.
Australia Gas Export Restrictions Counterproductive
When governments adopt new policies the benchmark for success should be that the change works, is efficient and fair to all parties and does not create unintended consequences. The decision by the Australian government to restrict exports of natural gas if the domestic market is constrained meets none of these criteria, although it may just persuade an increasingly angry public that the authorities are doing something. Whether the new policy does serve some short-term…
U.S. Coal Gets Boost, but it's Debbie not Trump
One of the big hopes for a revival of the U.S. coal industry since the election of President Donald Trump is increasing exports. Right on cue, it looks likely that more of the fuel will be shipped to foreign buyers. But this is a short-term boost and will benefit only a few U.S. coal miners, with the rest having to deal with domestic demand trending lower. The grim reality is that they can't compete with exports from lower cost producers around the globe. While Trump may have declared an end to what he termed the "war on coal" of his predecessor Barack Obama, the U.S.
Australia says clean energy fund could underwrite new coal plants
Australia is considering altering legislation to enable funds slated for clean energy developments to be used to bankroll construction of new low emission, coal-fired power plants. The suggestion by Energy Minister Josh Frydenberg comes after a major power outage during a heat wave in South Australia state worsened a row with the national government over energy security and the state's heavy reliance on wind and solar power. Frydenberg said current laws governing the Clean Energy Finance Corporation (CEFC) prevented it from investing in the high-energy…
WA’s First Co-located Solar Farm Powers Ahead
Western Australia’s Emu Downs Solar Farm is expected to begin construction within weeks after signing a funding agreement with the Australian Renewable Energy Agency (ARENA). The project is one of 12 around Australia supported by ARENA through its large-scale solar competitive round. The Emu Downs Solar Farm is being developed by energy infrastructure company, APA Group, and will produce enough energy to power 6,700 homes while creating an estimated 100 jobs during construction, mostly in the local region. It’s also the first solar farm in WA to be co-located with wind turbines.
ARENA’s Solar Push Sees First Project Signing
The first funding agreement in the Australian’s Renewable Energy Agency’s ground-breaking program to drive down the cost and accelerate the rollout of big solar has been signed today. The new agreement commits up to $8.9 million of ARENA funding towards Genex’s $126 million Kidston Solar Project in North Queensland. ARENA CEO Ivor Frischknecht said the Kidston project was a key component in ARENA’s push to triple Australia’s large-scale solar capacity by supporting 12 new solar farms.
Australia's Natural Gas Ban Replicates Springsteen's Rust Belt
When government policies are driven by populist politics, it is almost certain to lead to poor outcomes and a low standard of debate, as shown by the current conundrum in Australia's natural gas sector. The natural gas-rich Northern Territory has become the latest of Australia's eight state and territory governments to restrict the development of the industry, by placing a moratorium on hydraulic fracturing, or fracking, of wells. The Northern Territory move came as part of a campaign commitment by the newly-elected Labor Party government…
China Blasts Australian Blocking of Grid Sale
China voiced anger on Friday over a decision by Australia to rule out on security grounds the preferred Chinese bidders for an energy grid potentially worth more than $7 billion and restart the sale process. Australia's Treasurer Scott Morrison, who must approve major foreign investments, formally blocked the sale of Ausgrid to State Grid Corp of China and Hong Kong's Cheung Kong Infrastructure Holdings earlier in the day. Last month, Britain said it would review plans to build two nuclear reactors at Hinkley Point with financial backing from China General Nuclear.
Australia Blocked Grid Sale over South China Sea worries
Australia halted A$10 bln grid sale to State Grid Corp of China. Australia blocked the sale of a major power grid company to Chinese interests in part over concerns that China, its biggest trading partner, is becoming a geo-political threat, a senior member of Australia's government said. Treasurer Scott Morrison, from the country's pro-business centre-right coalition, halted the A$10 billion ($7.7 billion) sale of Ausgrid to government-owned State Grid Corp of China and Hong Kong's Cheung Kong Infrastructure Holdings on Thursday, citing national security issues.
