News Articles for North West Shelf Venture

Woodside Energy and North West Shelf project participants have agreed to process up to three million tonnes of gas per annum from Western Gas' Equus project using Woodside infrastructure.

A Woodside-led cohort of oil and gas majors has been granted a permit to evaluate the potential of turning a depleted gas field off the coast of Dampier into a carbon capture and storage project .

Decisions on two big gas projects are due, $12 billion of chemical projects are under consideration, and a decommissioning timebomb awaits.

Ambitious technology development in oil and gas makes the industry competitive but brings broader benefits to WA.

Visionary infrastructure projects can drive huge advancement in regional communities, but the challenge is investing money wisely.

SPECIAL REPORT: Decisions are expected on three major oil and gas projects worth $24 billion combined in 2020, with more to follow.

Nine WA-linked resources businesses are ranked among the country's top 20 corporate taxpayers, despite a widespread perception the industry does not pay its way.

Drilling on phase two of the Julimar-Brunello gas development will begin this quarter as part of a US$4 billion ($5.8 billion) capital expenditure drive by Woodside Petroleum in 2020.

With construction nearing its end point, the WA Museum is shifting its focus to content development at the state's newest cultural facility.

The state is developing from a gas exporter to produce a range of energy commodities and technological innovations, with energy exports to potentially hit $50 billion in a decade.

Woodside Petroleum has warned it would need to ramp down production at the Burrup Hub in the mid 2020s if the state government does not land on an emissions policy that would support the company's $46 billion of backfill projects.

Gas is flowing at Woodside Petroleum's Greater Western Flank-2 project, an extension of the North West Shelf Venture, with the company saying costs came in 30 per cent under budget.

Chevron's Clio and Acme gas fields could provide backfill supply for an existing LNG plant, most likely North West Shelf Venture's Karratha facility, under a plan to be unveiled by the company's Australian managing director Nigel Hearne this afternoon.

The much anticipated Browse LNG project has taken a step forward with partners arriving at an early stage agreement on pricing to pipe gas through an existing Karratha plant, while a proposed second train at Pluto LNG now looks likely to be much larger.

A doubling of production at Chevron's Gorgon LNG plant has helped boost national exports of the fuel 38 per cent to $30.8 billion in the year to June 2018, according to consultancy Energy Quest.

Woodside Petroleum has taken a small step on the potential Scarborough LNG project, signing an agreement with co-owner BHP Billiton to become the operator of any future development and granting the miner an option to increase its share of the project by 10 per cent.

SPECIAL REPORT: Mitsui & Company, Shell and Itochu Corporation are among a swag of businesses that have made substantial investments in the state's exporting industries over the decades, showing that foreign investors can contribute without directly operating assets.

Some of the North West Shelf Venture partners might either sell their stake in the operation or take an equity interest in potential projects such as Browse as one potential solution to find backfill liquids for Karratha gas plant in the next decade, according to a report by Wood Mackenzie.

The appointment of Sam Walsh as a director of Mitsui & Company this week has brought attention to the usually low-profile Japanese multinational, which according to BNiQ Search Engine data has been a major investor in Western Australia's resources industry and is one of the state's largest exporters.

A currency depreciation and weak market conditions for resources companies have driven net profit after tax down by 42.9 per cent at Henderson-based contractor Civmec.

National LNG exports were up 38 per cent in 2016, but Western Australian facilities did not contribute to the increase despite first gas being produced at Chevron's Gorgon project, according to the latest research from EnergyQuest.

Iron ore producers have maintained their dominance over the BNiQ Search Engine Biggest Exporters list, as LNG producers are slow to start up. Click through to see the annual list of the state's biggest exporting companies.

Western Australian gas producers shipped 2.2 million tonnes of LNG in September as quarterly exports were up 45 per cent nationally on last year, according to consultancy EnergyQuest.

A short term domestic gas contract between Woodside Petroleum and electricity generator Synergy is the first such deal since the North West Shelf Venture partners moved towards separate marketing of their production.

Australia's enormous LNG investment boom is starting to pay trade dividends, with exports up 18.5 per cent in the month of June to 3.6 million tonnes, largely to Japan and South Korea.

Dampier to Bunbury Natural Gas Pipeline owner-operator DBP says pricing for the gas transmission line set by the Economic Regulation Authority today won't be enough to earn a rate of return suitable for prevailing market conditions.

Woodside Petroleum has received a first strike against its remuneration report, with about 27.6 per cent of shareholders voting against it, while chairman Michael Chaney has flagged he may not step down at the next AGM as previously suggested.

March quarter revenue was down by nearly a third on the same period last year, Woodside Petroleum revealed today, although it flagged that it was continuing work with Hess on gas processing from the Equus field.

SPECIAL REPORT: Western Australia's next major greenfields liquefied natural gas project could be a decade away after Woodside last month decided against further progressing its Browse floating LNG facility.

Prime Minister Malcolm Turnbull will join a range of international energy leaders in Perth to open the LNG 18 global conference in mid-April.

Today at AOG: US petroleum company Hess is pursuing development of its Equus gas field off the Pilbara coast, with senior manager Andrew Drayton telling the Australasian Oil & Gas conference today it would proceed with a variety of tendering opportunities this year, including for subsea work.

Despite falling oil prices, projections are showing that local consumers and industry could be paying much more for gas in 10 years' time.

Analyst firm EnergyQuest has predicted lower liquefied natural gas prices will not lead to Australian operations switching off or cutting back production, in its latest quarterly review of the industry.

The latest official report into Western Australia's gas supply and demand outlook has raised the ire of a group of major domestic gas users, which says some of its key findings are misleading and called for an independent review into how the report is compiled.

SPECIAL REPORT: Earnings for the state from the powerhouse minerals and energy industries have softened, but agriculture, among other sectors, will create opportunities. Business News also takes an in depth look at Bunbury port, where a big expansion plan needs community backing and solid regional demand growth.

SPECIAL REPORT: The domgas market is going through a period of structural change, but history has lessons for those businesses that know where to look.

SPECIAL REPORT: As the energy construction boom winds down, policy makers must get the settings right to prepare for future investment, while energy players mull the best way to allocate scarce capital.

The state government will receive a budget bonus of more than $300 million thanks to the fall of the Australian dollar, while farmers and exporters will also benefit from increased international competitiveness.

Australian employees of oil and gas service provider Wood Group PSN can expect a salary freeze while contractors will experience rate reductions, a move the company said was in response to cost and efficiency challenges affecting the sector.

Alcoa of Australia has signalled its long-term commitment to Western Australia, signing a new gas supply agreement with Santos at the same time as a review revealed the global aluminium giant is considering big job cuts.