Download Issue 131 - January/February 2010 - SPE WA

Australia, New Zealand and PNG SectionsCunnamu laDalbyToowoombaWarwick2009 Retrospective“The review will consider the range of plausiblegas supply shortage events and the best wayto minimise any impacts on our community andbusiness”, WA Energy Minister Peter Collier saidof the review that followed a Senate report intothe Varanus explosion recommending furtherreviews of gas security and the management ofgas supply disruptions.On the other side of the country, the continueddevelopment of CSG-to-LNG technology hasQueensland poised to become a major LNGexporter and potential rival to WA. As noted inour November/December edition, with severalproposals for LNG plants at varying stages ofdevelopment, the Queensland Government hasset out its framework for the industry in itsBlueprint for Queensland’s LNG Industry.“It is estimated that Queensland’s burgeoningLNG industry could offer as many as 18,000direct and indirect jobs, including over 4,300 inthe Darling Downs/South West region alone”,Premier Anna Bligh told Parliament.“Much of the nation’s LNG attention has beenon West Australia’s Gorgon project, but thecontracts already signed for our LNG out of theSurat Basin are more than that of Gorgon. If allour projects were to materialise, we have thepotential to export in excess of 50 MMt of LNGper annum”, Bligh said.Meanwhile, as the world continued to recoverfrom the credit crunch, Chevron delivered itsown stimulus package for the WA and Australianeconomies by announcing it was proceeding withthe massive Gorgon project.“Gorgon will be an important pillar of theAustralian economy for the next 40 years”,Chevron Australia Managing Director RoyKrzywosinski stated at a signing ceremonyattended by WA Premier Colin Barnett and federalResources and Energy Minister Martin Ferguson.“We anticipate $33 B will be spent on Australiangoods and services with flow-on effectscascading through the Western Australianeconomy.”Chevron estimates the project will create 6,000jobs during peak construction, with more than3,500 direct and indirect jobs sustained throughoutits lifespan, and anticipates government revenueof around $39.8 B. In total, Gorgon has contractsto sell around $300 B worth of LNG to customersin the Asia Pacifi c over the next 20 years.One of the more evocative and controversialissues for the year—an issue that featuredheavily in many editions of SPE News—wasclimate change and the proposed introduction ofan emissions trading scheme (ETS).At the launch of the government’s CarbonPollution Reduction Scheme (CPRS) White Paper,Prime Minister Kevin Rudd noted the increasedlevel of assistance for companies engagedin emissions intensive activities. Woodside,however, while acknowledging the government’srecognition of the LNG industry as a sector thatwould likely qualify for assistance under theCPRS, continued to express concerns the ETScould adversely impact the sector’s internationalcompetitiveness.“We will continue to emphasise the positiverole LNG can play in helping reduce globalgreenhouse gas emissions and the contributionthe sector’s growth can make to the Australianeconomy”, Woodside CEO Don Voelte stated.“Our concern remains that, in implementingan emissions trading scheme, the governmentdoes not make the industry less competitivewith producers elsewhere in the world. We donot want a scheme which will cost Australianjobs or lead to an increase in greenhousegases through the burning of higher emissionfuels.”With the ETS start-date being pushed back to2011, this is an issue that will doubtless continueto be hotly debated within Australian politics andthe resources industry.The year ahead promises to be just as busy asthe year just passed, and SPE News, once again,will be there to document all the developmentsand topical issues in the petroleum sector. Notonly that, we’ll continue to run high-qualitytechnology focuses, project reviews, regionalfocuses, conference previews and reviews, ourSubsea Spotlight section will continue to bringyou news from the subsea sector, plus we’ll keepyou up-to-date with all the latest industry newsat home and abroad. ◆Australia, New Zealand and PNG SectionsAustralia, New Zealand and PNG SectionsMount IsaPhosphate Hi lBa leraKarumbaJulia CreekEromangaJacksonSPEAustraliaSPEAustraliaIssue 126July 2009ISSN 1449-8545Australia, New Zealand and PNG Sections◆ ◆ NZ PNGNEWSSPEAustraliaSPEAustraliaIssue 127August 2009ISSN 1449-8545◆ ◆ NZ PNGNEWSSPEAustraliaSPEAustraliaIssue 128September 2009ISSN 1449-8545◆ ◆ NZ PNGNEWSSPEAurukunCoenHughendenLongreachQuilpieIssue 129October 2009ISSN 1449-8545BarcaldineCharlevi leCooktownCairnsCharters TowersBlacka lAustralia◆ NZ ◆ PNGNEWSTownsvi leMoranbahRomaBowenDysartMackayTaroomWandoanMilesAustralia, New Zealand and PNG SectionsSPEIssue 130November/December 2009ISSN 1449-8545EmeraldMouraSurat Basin – Jurassic/Cretaceous ~10–20 mi lionBowen Basin– Permian ~30 mi lionRockhamptonChinchi laGladstoneAustraliaNEWSBundabergMaryboroughGympie◆ NZ ◆ PNGOmicronBRISBANEwww.spe.orgJanuary/February 2010 SPE NEWS 9