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Home to half of the world’s population and contributing a third to the global GDP, the Asia Pacific region is expected to maintain a 50% share of global primary energy demand and a 60% share of global carbon emissions until 2050. This trend is unlikely to change without strong policy action and investment. However, the region still has the potential to turn these challenges into opportunities and become a global leader in the energy transition.
Australia’s oil and gas industry needs to urgently fast-track the creation of energy “super basins” to provide a pathway to greater sustainability and cut emissions, according to Anne Forbes, Upstream Research Analyst at Wood Mackenzie.
Demand for long-term LNG contracts continues to gain momentum this year as large volumes have been signed and prices for oil-linked deals under negotiation are rising, according to a recently published LNG contract trends report by Wood Mackenzie.
Eastern Australia’s gas and power markets are at the forefront of Asia Pacific’s energy transition. Markets are undergoing a radical transformation, one which could see gas demand decline by 60% in 2050, depending on the pace of the energy transition, Wood Mackenzie, a Verisk business (Nasdaq:VRSK), said today.
Wood Mackenzie, releases its Global gas and LNG – 6 things to watch for in 2022 report.
Australian producers need to be at the forefront of green LNG to remain competitive, says Wood Mackenzie.
Santos has sanctioned the Barossa project, which extends the life of Darwin LNG (DLNG) beyond 2040.
Australia needs an ambitious long-term Renewable Energy Target (RET) policy to unlock future investments, says Wood Mackenzie.
As Biden’s inauguration approaches, Wood Mackenzie experts share how his administration could impact trade, climate change goals, and changes to the energy sector in Asia Pacific.
2021 will be a defining year for the gas and LNG industry, says Wood Mackenzie in its latest outlook report.
Wood Mackenzie’s Australasian upstream 2021 outlook report shows at least US$11 billion of gas projects poised for FID in 2021.
Wood Mackenzie’s 2020 Energy and Commodities Summit Asia Pacific edition kickstarted yesterday. Experts shared their views on how the energy sector is changing in light of the oil price crash, Covid-19 and the latest carbon-neutrality trends.
Wood Mackenzie’s latest report shows that the North West Shelf (NWS) LNG project could have up to 7 million tonnes per annum (mmpta) of spare capacity available by 2027. This equates to 40% of the project’s nominal capacity.
Using renewable energy to power liquefied natural gas (LNG) plants in Asia Pacific could reduce emissions by about 8%, says Wood Mackenzie.
In its latest short-term gas and LNG outlook report, Wood Mackenzie weighs the risks coronavirus, sustained low oil prices and LNG oversupply pose to the sector this year.
Wood Mackenzie’s latest analysis reveals that Australia’s next wave of LNG projects are likely to be delayed.
The government of PNG has called-off negotiations on the development of the ExxonMobil-operated P’nyang gas field.
Wood Mackenzie’s latest report reveals that LNG sellers with contracts linked to JCC (Japan Crude Cocktail) could lose some US$15 billion in unearned revenues. This is a result of the IMO 2020 regulation limiting sulphur content of marine fuels to up to 0.5%, which directly affects the price of sour crudes such as those composing the JCC mix. The IMO 2020 kicks in on 1st January 2020.
In the latest Australia east coast gas market research, Wood Mackenzie projects that the LNG netback price for Australia’s east coast could bottom out to A$6.50 – A$9 per gigajoule (GJ) over the next two years.
Santos announced today its plans to acquire ConocoPhillips’s northern Australian portfolio. This is a logical and attractive transaction for a number of reasons.
ExxonMobil putting its entire Gippsland Basin upstream portfolio up for sale represents big news for the Australian upstream and gas market.
Wood Mackenzie senior analyst Daniel Toleman shares his thoughts on the event of Prelude's first LNG cargo.
According to research by Wood Mackenzie, a second wave of LNG investments is building, both in Australia and globally, and these projects need to compete to progress
Following PM Scott Morrison's win in the recent 2019 Australia election, Wood Mackenzie and Verisk Maplecroft analysts share their thoughts.
Australia's general election is around the corner and Labor looks set for victory. Labor has announced its commitment to reduce Australia’s carbon emissions by 45% between 2005 and 2030, and to reach net-zero pollution by 2050. It has also proposed changes to existing mechanisms to lower energy and gas prices.
Santos' announced the confirmation of a significant gas resource at Corvus-2 appraisal well. Wood Mackenzie senior analyst Daniel Toleman comments on the announcement.
In a newly published report, Wood Mackenzie notes that the deepwater industry appears in good health, following a sustained cost reduction through the downturn. However this hard work is in danger of being undone, as impending cyclical cost inflation could raise break-even costs once again.
Asia-Pacific's oil and gas sector looks set to rebound over the next 12 months as rising demand, stronger commodity prices and an uptick in M&A activity bring greater confidence to the region. Wood Mackenzie predicts rising Asian LNG demand, the return of China's NOCs to growth mode and new appetite for upstream investment to be key factors influencing the sector, not only Asia-Pacific, but also globally into 2019.
The pace and scale of transformation in the east Australian gas market over the past five years has put gas – both its availability and its pricing – firmly on the country’s political agenda. Global natural resources consultancy Wood Mackenzie today releases its Australia East Coast Gas Market Outlook 2018-2032. The report offers a comprehensive overview of the dynamics shaping the gas market, including the drivers of domestic gas demand, how gas flows will change and price dynamics.
In contrast to the 2018 GSOO released today by the AEMO, Wood Mackenzie’s East Coast Gas report identifies a potential gas shortfall between 2023 and 2025, significantly earlier to the GSOO’s estimate of 2030.
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