GAS INDUSTRY – AUSTRALIA

Gas exporters on notice to lock in more supplies for Australians

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Original article by Nick Toscano
The Sydney Morning Herald – Page: Online : 28-May-25

Federal Resources Minister Madeleine King addressed the Australian Energy Producers conference in Brisbane on Tuesday. Amid growing fears of a looming gas shortage on the east coast, King said that Australians are tired of seeing the nation’s vast gas resources exported while paying high prices themselves. King added that while some Australian LNG producers are "doing the right thing" by ensuring that there is sufficient domestic supply, a lot of work still needs to be done on this issue. She added that the federal government plans to undertake a review of laws and regulations governing the LNG sector, to ensure that they are working as intended.

CORPORATES
AUSTRALIA. DEPT OF INDUSTRY, SCIENCE AND RESOURCES, AUSTRALIAN ENERGY PRODUCERS

Gas producers question whether Coalition’s energy plan will cut consumer prices

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Original article by Kate Lyons, Adam Morton
The Guardian Australia – Page: Online : 2-Apr-25

Shell Australia chair Cecile Wake is amongst the energy industry executives who attended the Australian Domestic Gas Outlook conference on Tuesday. She noted the lack of detail in the proposed ‘east coast gas reservation policy’ which Opposition leader Peter Dutton announced in his recent budget reply speech. Dutton’s policy would require gas exporters to redirect an additiona1 10-20 per cent of their output to the domestic market. Wake says the policy could see gas supply in the domestic market exceed demand, which could in turn result in gas prices falling to a level where future investment decisions are not economic. She adds that an oversupply may not necessarily result in lower gas prices for households and businesses.

CORPORATES
SHELL COMPANY OF AUSTRALIA LIMITED, LIBERAL PARTY OF AUSTRALIA

Gas code poised for release

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Original article by Colin Packham
The Australian – Page: 13 & 16 : 5-Jul-23

The federal government will shortly release the full text of its new mandatory code of conduct for the gas industry, which will require gas to be sold at a "reasonable price". Senex Energy and Cooper Energy are amongst the companies that have suspended or delayed gas projects due to concerns about the code, which is being introduced as part of the government’s controversial intervention in the gas industry. The Australian Consumer & Competition Commission recently concluded that the nation should have sufficient gas supplies for the next 18 months.

CORPORATES
SENEX ENERGY LIMITED, COOPER ENERGY LIMITED – ASX COE

MinRes hands Hancock victory in Warrego fight

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 17 : 7-Feb-23

Hancock Energy has secured control of takeover target Warrego Energy after Mineral Resources agreed to sell its stake to the Gina Rinehart-backed company. Hancock now has a 50.54 per cent stake in Warrego, which means that its cash bid will automatically be extended by two weeks. Mineral Resources had built up a 19.17 per cent holding in Warrego, and described it as a "strategic stake" rather than a prelude to a rival takeover bid. Strike Energy, which launched a takeover bid for Warrego in late 2022, has advised that it will consider its options.

CORPORATES
WARREGO ENERGY LIMITED – ASX WGO, HANCOCK ENERGY PTY LTD, MINERAL RESOURCES LIMITED – ASX MIN, STRIKE ENERGY LIMITED – ASX STX

Court rejects Narrabri gas challenge

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 18 : 19-Oct-21

A community action group has failed in its bid to overturn the Independent Planning Commission’s recent decision to grant environmental approval for the Narrabri coal seam gas project in New South Wales. The legal challenge has been rejected by the state’s Land & Environment Court, although anti-gas activists have vowed to continue the fight against the Santos project. The latest legal challenge to the controversial project is likely to further delay a final investment decision, which is now expected to be made in 2024.

CORPORATES
SANTOS LIMITED – ASX STO, NEW SOUTH WALES. INDEPENDENT PLANNING COMMISSION, NEW SOUTH WALES. LAND AND ENVIRONMENT COURT

Angus Taylor and Keith Pitt asked by Senate inquiry chair to explain dealings with firm awarded Beetaloo gas grants

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Original article by Christopher Knaus
The Guardian Australia – Page: Online : 2-Sep-21

Two federal government ministers are under scrutiny over the decision to award $21m in grants for gas exploration in the Beetaloo Basin to Empire Energy, which has close links with the Liberal Party. It has been revealed that the company enquired about the eligibility criteria and application process for the grants some time before the guidelines for the program were released in March. Greens senator Sarah Hanson-Young says Energy Minister Angus Taylor and Resources Minister Keith Pitt must disclose whether they had any communications with Empire Energy prior to this date.

CORPORATES
EMPIRE ENERGY GROUP LIMITED – ASX EEG, LIBERAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF AGRICULTURE, WATER AND THE ENVIRONMENT, AUSTRALIA. DEPT OF INDUSTRY, SCIENCE, ENERGY AND RESOURCES, AUSTRALIAN GREENS

BHP sale could hurt its credit rating

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Original article by Nick Evans
The Australian – Page: 17 : 25-Aug-21

S&P Global Ratings says BHP’s proposed deal to merge its petroleum division with Woodside Petroleum will further increase its reliance on iron ore and make its earnings less diversified than rivals such as Rio Tinto and Glencore. BHP currently has a credit rating of ‘A’ from S&P, which has put it on CreditWatch negative; S&P has also flagged the possibility that the Woodside deal could prompt it to downgrade BHP’s credit rating by two notches, to ‘BBB+’.

CORPORATES
BHP GROUP LIMITED – ASX BHP, WOODSIDE PETROLEUM LIMITED – ASX WPL, S&P GLOBAL RATINGS

Woodside investors cautious on deal

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Original article by Perry Williams
The Australian – Page: 16 : 19-Aug-21

Allan Gray Australia MD Simon Mawhinney says there are a lot of "unknowns" with regard to Woodside Petroleum’s proposed deal to merge with the petroleum division of BHP. He says the biggest question is just what Woodside investors will gain in return for giving BHP shareholders a 48 per cent stake in the oil and gas producer. Meanwhile, Woodside has posted an underlying net profit after tax of $US354m for the first half of 2021, and revenue of $US2.5bn.

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, BHP GROUP LIMITED – ASX BHP, ALLAN GRAY AUSTRALIA PTY LTD

‘No place to hide’: pressure on Australia to end support for new fossil fuel projects after IPCC report

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Original article by Adam Morton, Graham Readfearn
The Guardian Australia – Page: Online : 11-Aug-21

Environmentalists have called for the federal government to halt all new fossil fuel projects in the wake of a new report from the Intergovernmental Panel on Climate Change. Kirsty Howey from the Environment Centre Northern Territory says development of gas resources in the Beetaloo basin must not proceed in the wake of the IPCC report; the federal government is providing up to $50 million in funding for exploration in the basin. Andy Paine of Frontline Action on Coal has also urged an immediate halt to fossil fuel projects, including the Carmichael coal mine in Queensland.

CORPORATES
INTERGOVERNMENTAL PANEL ON CLIMATE CHANGE, ENVIRONMENT CENTRE (NT) INCORPORATED, FRONTLINE ACTION ON COAL

Price gap may trigger wave of oil, gas M&A

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 12 & 14 : 7-Jul-21

Mark Busuttil of JP Morgan believes that some Australian-listed energy producers could become takeover targets due to the growing gap between oil and gas prices and their share prices. Potential targets could include Oil Search, Cooper Energy, Senex Energy and Carnarvon Petroleum. Busuttil says Beach Energy could potentially make a bid for Cooper Energy or Senex Energy, while he suggests that offshore players ExxonMobil and Total would be most likely to target Oil Search.

CORPORATES
OIL SEARCH LIMITED – ASX OSH, COOPER ENERGY LIMITED – ASX COE, SENEX ENERGY LIMITED – ASX SXY, CARNARVON PETROLEUM LIMITED – ASX CVN, EXXONMOBIL CORPORATION, TOTALENERGIES SE