Media release: New research supports seismic surveys pressreleasepoint.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pressreleasepoint.com Daily Mail and Mail on Sunday newspapers.
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Full steam ahead for $6 billion compression project at Gorgon
The voice of the oil and gas industry said today’s Final Investment Decision (FID) on the approximately AUD$6 billion Jansz-Io (J-lC) compression project at Gorgon means affordable, reliable and cleaner energy for customers in Western Australia and across the Asia-Pacific region for years to come.
APPEA Chief Executive Andrew McConville said Chevron and the Gorgon joint venture participants will use world leading subsea compression technology to enhance the recoverability of the Jansz-Io field to maintain long-term natural gas supply to the LNG and domestic gas plants on Barrow Island.
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ACCC Netback Pricing Draft Report
The voice of the oil and gas industry today said the Australian Competition and Consumer Commission’s (ACCC) report on netback pricing confirmed the current mechanism appropriately reflects the Australian market.
APPEA Chief Executive Andrew McConville said, as the ACCC has previously stated, the netback price was an indicator and not an actual price in the market.
“The current mechanism accurately reflects the massive investment and commercial risk taken by producers to develop more gas resources, which in turn has underpinned ongoing supply to domestic customers,” Mr McConville said.
“The review found, consistent with APPEA’s advice, that for LNG producers on the east coast, exporting to Asia remains their main market, meaning Asian LNG prices are the most relevant benchmark in calculating LNG netback prices for the east coast gas market.”
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New NOGA Levy is extreme
The voice of the oil and gas industry today labelled a new levy of $0.48 per barrel on all offshore oil producers as over the top and extreme.
APPEA Chief Executive Andrew McConville said the proposed levy Laminaria-Corallina oil fields and associated infrastructure levy will see a number of offshore oil and gas companies footing a massive bill for a project they have never been involved in, never benefitted from and up to 3,500 kilometres away from their operations.
“To slug an entire industry $0.48 per barrel and not put an end date on it is over the top,” Mr McConville said.
Oil and gas delivering jobs, growth and a cleaner energy future miragenews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from miragenews.com Daily Mail and Mail on Sunday newspapers.