VICTORIAN GAS MARKET-OPPORTUNITIES FOR PRODUCERS

1997 ◽  
Vol 37 (1) ◽  
pp. 755
Author(s):  
C.P. Demarte
Keyword(s):  
Gas Production ◽  
Market Place ◽  
Supply Contracts ◽  
Gas Industry ◽  
Market Growth ◽  
Field Development ◽  
Market Opportunities ◽  
Gas Market ◽  
Gas Supply

This paper addresses opportunities for producers in the Victorian gas market arising from the ongoing reform of the Australian gas industry. Much of the impetus of the change has occurred in Victoria but to date there has been little evidence of the benefit of market reform to producers. This is expected to change.Until recently, Esso/BHPP had a secure hold on gas production into the Victorian market. The renegotiation of their gas supply agreement with Gas and Fuel has created opportunities for limited production from new producers in the short term and significant market options in the long term.Gas marketing companies are preparing to change the way they do business. Rigid long-term gas supply contracts will be balanced with alternative arrangements with producers such as financing of field development, equity investment in projects, alliances, commodity exchanges and the use of underground gas storage and LNG.The formation of a spot market for gas will allow a transparent market place to evolve where forward physical and paper transactions can take place. Trading of gas futures and options will provide a mechanism for producers to take up any risk position that meets their corporate strategy.In the light of market growth forecasts, flexible supply arrangements and market restructure, the potential for supply of natural gas by producers into the Victorian market is considerable.

scholarly journals The V4’s Gas Market transition towards the EU’s Energy Security

2021 ◽  
Vol 16 (2) ◽  
pp. 207-218
Author(s):  
Katarína Sárvári
Keyword(s):  
Energy Security ◽  
Market Transition ◽  
Market Model ◽  
Spot Markets ◽  
Supply Contracts ◽  
Gas Market ◽  
Returns On Investment ◽  
Gas Supply ◽  
The Eu

Current development of the European gas market uncovers several new opportunities and challenges for energy security that developed from big changes in production, transit and supply ways of natural gas to Europe. New European gas market model builds on the principles of diversification, the security of supply, interconnectivity and liberalization. Realization of the EU Third Energy Package related to a progressive shift from long-term oil-linked gas supply contracts and development of alternative gas supply sources and lines, as well as the rivalry between already established gas transit lines and the new supply lines present new challenges and require transition for the V4 countries. In this article I studied what are the new changes and challenges of the transition of V4 countries towards the EU’s energy security? To adjust to transition V4 countries should build the new infrastructure on the short-term pricing market and the ways how it will be funded. If V4 countries want to trade gas with the neighbours and transport most of the Russian gas to Europe, they need to invest into reforms of pipelines’ networks or to find other alternatives of diversification in the next decades. Returns on investment on a liberalized market with a multitude of competitors will be manageable but require serious reforms. The V4 countries will have to enter into the spot markets to efficiently trade gas. Available gas hubs in Europe are much smaller, less liquid, and mostly supplied by the same companies as the long-term traded gas hubs. This kind of markets is easy to manipulate. Therefore, it is important for the V4 countries to plan how to coordinate their national energy policies and name EU’s energy targets for the future.

Algeria will aim to hold on to gas market share

2018 ◽  
Keyword(s):  
Natural Gas ◽  
Chief Executive ◽  
Liquefied Natural Gas ◽  
Supply Contracts ◽  
Content Type ◽  
Global Demand ◽  
Gas Market ◽  
One Year ◽  
Gas Supply

Significance Sonatrach is preparing to renegotiate most of its long-term contracts to supply natural gas by pipeline and as liquefied natural gas (LNG), as their expiry dates approach in 2019 and 2020. Ould Kaddour, who was appointed Sonatrach’s chief executive one year ago after a period of turbulence within Sonatrach, has made clear that he appreciates the need for a flexible approach in an intensely competitive market. Impacts Algeria’s hydrocarbons production is declining, but global demand for LNG in particular is rising fast. Securing new natural gas supply contracts will be vital for Algeria’s revenue prospects. Ould Kaddour’s efforts to foster better relations with international companies could be rewarded by increased investment.

Streamline, standardise, or specialise? Frameworks for regulation of unconventional resources in Australia

2014 ◽  
Vol 54 (1) ◽  
pp. 361
Author(s):  
Richard Brockett
Keyword(s):  
Regulatory Reform ◽  
Gas Production ◽  
Project Delivery ◽  
Gas Industry ◽  
The Sustainable Development ◽  
Land Access ◽  
Unconventional Resources ◽  
Global Demand ◽  
Regulatory Approach

The growth in domestic and global demand for energy has encouraged the development of new and innovative sources of energy. In Australia, the coal seam gas (CSG) industry has been in the vanguard of these advances with significant investment already in place to develop major CSG projects in Queensland. This rapid rise has highlighted the potential for other unconventional resources with proponents now exploring for new resources, such as shale gas, across Australia. Governments have generally attempted to support the development of these new industries. Regulatory reform has addressed the bespoke regulatory issues presented by unconventional gas production particularly in respect of water, land access and co-existence with other industries. Despite this the onshore gas industry continues to face political uncertainty, community division and divergent regulatory responses. Industry has consistently called for regulatory reforms to address duplication, remove unnecessary costs and improve approval processes to speed project delivery and enhance project returns while maintaining robust environmental protection obligations. State and Federal governments have responded to these calls for action in varying ways. While there is much to approve of in each of these processes each presents specific issues and risks that must be considered before they are implemented or more broadly adopted. Therefore, the question arises: What is the best long-term regulatory approach for the sustainable development of Australia’s unconventional resources? This paper reviews existing Australian regulatory approaches and analyses how regulators, industry and the community can work together to develop and implement a regulatory framework that achieves their respective objectives.

Iran gas can diversify European supplies in long term

2015 ◽  
Keyword(s):  
United States ◽  
Foreign Investment ◽  
The United States ◽  
Gas Production ◽  
Gas Industry ◽  
Content Type ◽  
The Third ◽  
Un Security Council ◽  
To Come

Significance The deal reached between Iran and the P5+1 negotiating group (UN Security Council permanent members plus Germany) on July 14 promises to end most sanctions on the country, in return for suspension and monitoring of its nuclear programme. If ratified by all parties, it will create opportunities for an expansion of Iran's gas production and exports. Iran is the holder of the world's largest gas reserves, according to BP estimates. It is also the third-largest producer (after the United States and Russia, and probably having overtaken Qatar during 2015), and the fourth-largest consumer. Impacts Iran could increase gas exports by advancing projects stalled by sanctions, although most of these will take some years to come to fruition. Iran would seek to attract foreign investment into its gas industry to increase production and exports in the longer term. If this occurs, Iran will compete with other gas exporters, particularly Russia, into the 2020s.

Pricing prospects for global LNG and Australian gas markets

2014 ◽  
Vol 54 (2) ◽  
pp. 490
Author(s):  
Fiona Poynter
Keyword(s):  
East Coast ◽  
Supply And Demand ◽  
Supply Contracts ◽  
Short Term ◽  
Gas Industry ◽  
The Us ◽  
Gas Markets ◽  
Gas Market ◽  
Market Needs ◽  
Index Formulas

Global LNG pricing outlook Liquidity in the global LNG spot market is increasing and the industry is seeking price diversification in its supply contracts. The rationale for oil linkage is being challenged. Short-term trade now accounts for a quarter of the total market, and the US’ Henry Hub, the UK’s NBP, and global LNG spot indices are all used in LNG price indexation. Growth in LNG supplies, short-term trade, and operational flexibility will drive global price connectivity and increase transparency. The US will begin exporting LNG, tightening the price differential between Atlantic and Pacific basins. The LNG industry will continue to question the validity of oil-price linkage as it seeks a reliable reference capable of reflecting supply and demand fundamentals in the gas markets themselves. It is, however, important to recognise that gas-to-gas pricing will not automatically deliver cheaper LNG than equivalent oil-index formulas. East coast Australia gas pricing outlook Dynamics in Australian east coast gas markets are changing rapidly, with LNG at the heart of this revolution. The east coast gas industry seeks a deeper, more liquid and transparent market, while looking to international gas hubs for lessons in boosting market efficiency. The industry must address challenges such as gas storage and pipeline capacity if it is to have the flexibility needed to build a vibrant market. Oil-indexed LNG netback pricing is starting to work its way into east coast gas supply contracts; however, as the European gas industry moves away from oil indexation, Australia’s domestic gas market needs to look at alternative pricing structures.

Esso Australia’s long-term contribution to the east coast gas market

2019 ◽  
Vol 59 (3) ◽  
Author(s):  
Nathan Fay
Keyword(s):  
Joint Venture ◽  
Oil And Gas ◽  
Free Market ◽  
Supply And Demand ◽  
Petroleum Industry ◽  
Gas Production ◽  
Oil And Gas Production ◽  
The Right ◽  
Gas Supply

This year marks the golden jubilee of Australia’s offshore petroleum industry after the first gas was produced from Bass Strait by Esso and BHP’s Gippsland Basin Joint Venture. For half a century our industry has been driven by technology – pioneering technical excellence and pushing the envelope in the pursuit of much needed oil and gas production. Today, the landscape in East Australia is changing and gas is at the forefront of the discussion. Declines in East Australia’s historical conventional fields have seen gas supply tighten and prices rise. There is a strong need for additional affordable and reliable gas supply. While continued improvements in technology remain a critically important enabler in developing Australia’s gas resources; global supply and demand, regulatory frameworks, and the commercial arrangements that underpin new developments are becoming more and more important. ExxonMobil Australia’s new Chairman, Nathan Fay, has a wealth of experience working with gas markets around the world. He will explain why it is so important for policymakers to establishment a stable free market environment to encourage these long-term relationships. To view the video, click the link on the right.

Evolution of the east coast gas market

2018 ◽  
Vol 58 (2) ◽  
pp. 513
Author(s):  
Philip Byrne
Keyword(s):  
East Coast ◽  
Regulatory Frameworks ◽  
The Us ◽  
Major Transition ◽  
Gas Market ◽  
Gas Fields ◽  
Eastern Seaboard ◽  
Gas Supply ◽  
Australian Industry

This extended abstract reviews how the east coast gas market is managing the major transition from being a ring-fenced domestic market to being part of an interconnected global trading market, and what still needs to be done to rebalance after half a decade of disruption. The east coast gas market has a great future ahead of it, but only if Australia acts quickly to open up access to new gas supply sources as existing gas fields mature and decline. The presence of a global liquefied natural gas (LNG) supply market on the east coast now provides an incentive for gas producers to invest in new provinces and new plays at a scale the domestic gas market could not have supported on its own. This can only be good for competition in the east coast gas market over the medium to long term, and potentially open up enormous supplies for the growth of Australian industry, akin to the US shale gas revolution. To make the most of the resources and infrastructure we now have on the eastern seaboard, there is a role for governments to play in ensuring access to resources and providing stable, coordinated, robust energy policy and regulatory frameworks that attract investment in further growth in the gas sector, the benefits of which will flow on to Australian industry more generally.

TRENDS IN THE DEVELOPMENT OF THE OIL AND GAS MARKET AND THE MAIN MEASURES OF STATE SUPPORT AIMED AT THE IMPLEMENTATION OF ARCTIC OIL AND GAS PROJECTS

2021 ◽  
Vol 5 (11) ◽  
pp. 31-38
Author(s):  
Igor V. Selin ◽  
◽  
Mikhail V. Ulchenko ◽  
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Gas Production ◽  
State Support ◽  
Gas Industry ◽  
Oil Companies ◽  
Oil Reserves ◽  
Exploration Drilling ◽  
Gas Market ◽  
High Level

This article is devoted to the study of the main trends in the development of the oil and gas market, as well as the transfer of state support aimed at the implementation of Arctic oil and gas projects. The analysis showed that 2020 turned out to be extremely difficult for the oil and gas industry as a whole. The volumes of oil and natural gas production and consumption decreased, and due to a reduction in revenue, large domestic companies began to save on exploration drilling. Given the high level of «depletion» of oil reserves in traditional fields, with an increase in demand, in the short term, domestic oil companies will not be able to quickly increase production volumes and take advantage of favorable market conditions.

scholarly journals Digital oil and gas complex of Russia

Georesursy ◽  
2020 ◽  
pp. 32-35 ◽  
Author(s):  
Anatoliy N. Dmitrievskiy ◽  
Nikolay A. Eremin ◽  
Dina S. Filippova ◽  
Elizaveta A. Safarova
Keyword(s):  
Fiber Optics ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Field Development ◽  
Intelligent Control Systems ◽  
Geological Processes ◽  
Technological Modernization ◽  
Gas Market ◽  
Academy Of Sciences

Digital and technological modernization of the oil and gas industry through the use of innovative technologies and platform solutions, intelligent control systems, domestic “end-to-end” digital technologies will help strengthen Russia’s position in the global oil and gas market. One of the megascience projects being developed at the Institute of Oil and Gas Research Institute of the Russian Academy of Sciences is the creation of a Geosphere Observatory. The Geosphere Observatory is focused on studying the influence of fundamental geological processes (crustal waveguides, fracture centers, etc.) in the mantle and crust of the Earth on the formation of hydrocarbon accumulations and management of field development in real time based on the introduction of advanced technologies in the field of ultra-deep drilling, fiber optics and laser physics, processing large volumes of geo-information (BigGeoData) and the theory of reconfigurable active-passive sensor networks (AntennaGrid).

scholarly journals GAS PRODUCTION AND UTILIZATION IN NIGERIA: A LONG-TERM PERSPECTIVE

2020 ◽  
Vol 6 (5) ◽  
pp. 58-72
Author(s):  
Henry Biose
Keyword(s):  
Gas Production ◽  
Regulatory Structure ◽  
Compressed Natural Gas ◽  
Financing Structure ◽  
Benin City ◽  
Gas Utilization ◽  
Gas Consumption ◽  
Sustainable Financing ◽  
Gas Supply

The study reviewed the gas production and utilization in Nigeria and outlines strategies for long term development. There is weak gas resource management system in Nigerian that has resulted to gas production being at 8.0bscf/d with utilization of 39% (2.9 bscf/d) on NLNG, 31% (2.3 bscf/d) on reinjection and other operational usage, 15% (1.1 bscf/d) on gas flaring and 16% (1.2bscf/d) on domestic gas consumption. The study shows a 41% daily average domestic gas supply obligation performance. Extensive review of related literatures was used to obtain relevant data and information on gas production and utilization in Nigeria. The study revealed inconsistencies and low gas production and utilization in Nigeria with respect to the Nigerian Gas Master plan that was not fully implemented, relatively low gas flare penalty and insufficient domestic gas utilization projects. The compressed natural gas utilization in Nigeria has only been used in Benin-City for cars, Nestle Shagamu factory and Power gas Africa. The proposed strategy for the long-term gas production and utilization in Nigeria includes sustainable management structure, sustainable governance and regulatory structure and sustainable financing structure.

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