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New research from global natural resources consultancy Wood Mackenzie indicates Asia-Pacific's offshore wind capacity will rise 20-fold to 43 GW in 2027.
After a decade of stellar growth, Wood Mackenzie forecasts that solar demand in the Asia-Pacific will decline for the first time this year. Compared to 2017, the region's solar demand will dip 18% to 59 GW in 2018 due to declining installations in China, India and Japan.
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.
A sizeable discovery is significant for Quadrant, whose private equity backers are looking to exit, and Carnarvon, which is a pure-play explorer. A standalone oil discovery is easier to monetise than gas, as it does not require LNG contracts or gas infrastructure.
BP has bought BHP Billiton's US Lower 48 assets in a $10.5 billion deal. Wood Mackenzie believes the deal will be transformative for BP.
Global natural resources consultancy Wood Mackenzie sees OPEC maintaining its role as a key oil supplier through to 2040, although output from non-OPEC producers will help ensure adequate supply in the years to 2030.
Looking at behind-the-meter, Australia was the biggest residential storage market in the world in 2017, with a tripling of residential storage deployments over the previous year. High retail electricity rates and diminishing or expiring feed-in tariffs have encouraged residential solar customers to choose storage for self-consumption benefits. As a result, over the past few years, Australia has been the preferred testbed for new residential energy storage products, as several technology vendors have first introduced their residential product portfolios in the country.
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.
In a recent study, Wood Mackenzie forecasts Australia's East Coast gas prices to rise up to 30 percent to between A$10 and A$13 /per gigajoule by the mid 2020s.
The impact of the 2014 oil price collapse is still being felt across the upstream sector. Operators have cut investment, deferred projects and implemented tough cost discipline, slashing US$910 billion from global capital expenditure estimates for 2015-2020. While many operators believe the cuts will stick, a new survey released today by natural resources consultancy Wood Mackenzie indicates the pictured is more nuanced.
2018 looks set to be a brighter year for upstream oil and gas companies
OPEC and non-OPEC producers agree to extend production curbs through 2018
Major eastern Australian gas buyer AGL has proposed to use a leased Floating Storage and Regasification Unit (FSRU), approximately 65km south of Melbourne, to import LNG and ease domestic gas shortage issues. This solution has faced mixed reviews given the already available domestic options, mainly the CSG-LNG projects in Queensland.
Following the announcement of Beach Energy's US$1.25 million acquisition of Origin Energy’s subsidiary, Lattice Energy, our Australasia senior analyst Chris Meredith, weighs in on the deal.
A joint research report conducted by Wood Mackenzie and GTM Research assessing generation economics concludes that declining renewables and energy storage costs will increasingly squeeze out gas-fired generation in South Australia as early as 2025.
According to research by Wood Mackenzie, the APAC upstream sector holds considerable value as the majors divest mature and mid-life assets in the region.
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