Before we embark on our next gas-fired recovery, it might be worthwhile checking in to see how the last one is going. So here is an around the country tour of the #LNG boom starting in Queensland. 1/11
@SantosLtd has just taken over the Darwin LNG plant that is likely to be empty in a few years when gas from Bayu Undan dries up. The partners have had a decade to plan a new supply and all they have is the possibility of Barossa, that is full of CO2. 3/11 https://www.boilingcold.com.au/santos-dirty-big-2b-barossa-bet/">https://www.boilingcold.com.au/santos-di...
@Shell& #39;s $US17B Prelude floating LNG is only 20km from the Ichthys offshore facilities, but of course was developed separately, as inter-company rivalry trumps all again. It was to be a technical marvel but has been a disaster so far. 5/11 https://www.boilingcold.com.au/after-prelude-few-win-from-shells-floating-lng/">https://www.boilingcold.com.au/after-pre...
@WoodsideEnergy& #39;s North West Shelf, the original Australian LNG project, could be up to 40% empty in 7 years, according to @WoodMackenzie. It only has tentative agreements for some small gas supply. Browse, that was to fill NWS, is as dead as a dodo. 6/11 https://www.boilingcold.com.au/woodside-browse-lng-is-dead/">https://www.boilingcold.com.au/woodside-...
To complete the tour, @Chevron& #39;s $US34B Wheatstone plant is running well but execs admit that Gorgon & Wheatstone will never return more than 10% due to massive costs.
The reality of returns from oil and gas, as opposed to the promise, makes sense of BP& #39;s pivot to other energy.
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