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The Grattan study also found the gas recovery plan would not lower energy prices. “The east coast has already burned most of its low-cost gas, and will not go back to the good old days of low prices, so gas will become an increasingly expensive energy source.”
Nor, it said, does gas stack up as a “transition fuel”.
“As Australia’s coal-fired power stations retire over coming decades, it would be more expensive to replace them with gas than to switch to more renewable energy such as wind and solar.”
A study by The Australia Institute on November 16 drew similar conclusions. It found 82% of Australia’s gas production goes to exports. The liquefied natural gas (LNG) export industry uses 12 times as much gas as the entire manufacturing industry and more than twice the amount used by households.
REFINERY NEWS ROUNDUP: Refineries in India ramp up runs
Refineries in India have been ramping up runs after demand for products, excluding jet, reached pre-coronavirus levels.
Average capacity utilization for all categories of refineries in India improved to 87% in October compared with 86% in the previous month, showed the latest survey of the oil ministry Nov. 25, reflecting gradual improvement in oil demand as Asia’s third-largest economy unlocks. However, the October run was lower than the previous year’s run rate of 104%. In October, state-run refineries recorded 89% run compared with 104% from a year ago and 83% in September. Private refineries recorded 80% run in October compared with 103% a year-ago and 89% in September. The private refiners’ lower run rate was mainly due to lower processing at Reliance operated export focused unit at 82% after maintenance shutdown of a Crude Distillation Unit at its Jamnagar complex and a poor run of Rosneft part-owned Nayara Energy