GLADSTONE, Australia – May 25, 2016 Curtis Island projects continue smooth transition towards operations with five out of six trains now producing LNG Bechtel has announced that GLNG Project Train 2, the fifth of six production trains on Curtis Island, has successfully begun producing liquefied natural gas (LNG). The three LNG projects continue smooth transition towards operations with just one
The Chevron-led project expects first cargo next week. Chevron (ticker: CVX, Chevron.com) announced that its Gorgon LNG project has begun liquefaction of natural gas on Barrow Island off the northwest coast of Western Australia, with the expectation that the first LNG cargo will ship next week, the company said in a press release. The Gorgon Project is supplied from the
All stock offering would give Woodside growth potential Woodside Petroleum (ticker: WPL), Australia’s largest independent oil and gas company, announced that it has made a non-binding offer for Oil Search Ltd. (ticker: OSH) under which Woodside would acquire all of the shares in Oil Search for a consideration of one Woodside share for every four Oil Search shares, according to
The Australian government will no longer allow the Clean Energy Finance Corporation to invest in wind Australia’s Clean Energy Finance Corporation (CEFC) received a directive from the Australian government to stop investing in future wind power projects. Australian Prime Minister Tony Abbott said the decision was made in hopes of refocusing the CEFC on developing new technologies, rather than supporting
Via Columbus Business Journal Aubrey McClendon plans to spend $100 million in … Australia? Oil and gas maven Aubrey McClendon has spent big on shale plays across the U.S., especially in Ohio. But now McClendon, founder of Chesapeake Energy Corp. (NYSE:CHK), is shifting his gaze down under. McClendon’s new company, American Energy Partners LP, has signed a non-binding letter of
Industry groups say the reservation policy adds unnecessary burdens on the project Western Australia’s gas reservation policy has been applied to the Woodside Energy-led (ticker: WPL) Browse floating liquefied natural gas (FLNG) project, . The policy was started in 2006, and requires that petroleum projects reserve up to 15% of their production for domestic use, according to Practical Law. The
New research shows the LNG industry could grow Australia’s GDP by almost 3% from 2013 levels by 2020 A new report titled “Ready or Not? Creating a world-leading oil and gas industry in Australia,” found that the liquefied natural gas (LNG) industry in Australia could become the world’s largest and most technologically advanced, contributing more than AUD$55 billion (USD$44.03 billion)
Chevron Corporation (ticker: CVX), the world’s third largest E&P by market capitalization, is selling its 50% shareholding in Caltex Australia Limited. The deal is reportedly worth about US$3.6 billion, according to the Sydney Morning Times Herald, and is the biggest block trade in Australia’s history. The deal was solely underwritten by Goldman Sachs and is expected to “be sold to
A memorandum of understanding signed between Woodside and Adani is set to strengthen ties in the LNG sector Australian energy major Woodside Petroleum Ltd (ticker: WPL) and India’s infrastructure conglomerate Adani Enterprises Ltd (ticker: ADANIENT) signed a memorandum of understanding (MOU) last week for cooperation in exploring opportunities in India’s oil and gas sector. The MOU, signed on January 10,
Some LNG projects in Australia in trouble Planned Australian liquefied natural gas (LNG) export projects are at risk as sinking energy prices make investments unviable, reports Reuters. A nearly 50% slump in Asian LNG prices this year has pressured any project without a Final Investment Decision (FID). Last week, Woodside Petroleum Ltd. (ticker: WPL) delayed the FID for its $40
Magellan Petroleum Corporation (ticker: MPET) is an independent oil and gas exploration and production company with assets in the United States, Australia, and the United Kingdom. The development of a CO2-enhanced oil recovery program at its Poplar Dome assets in eastern Montana is its primary focus. Magellan’s U.K. properties are onshore and include the Weald and Wessex Basins prospective for unconventional
Magellan Petroleum Corporation (ticker: MPET) is an independent oil and gas exploration and production company with assets in the United States, Australia, and the United Kingdom. The development of a CO2-enhanced oil recovery program at its Poplar Dome assets in eastern Montana is its primary focus. In Australia, Magellan operates two onshore gas fields in the Amadeus Basin in the Northern
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