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Australia’s election gives LNG, fuels sector certainty
Australia’s election gives LNG, fuels sector certainty
Sydney, 5 May (Argus) — Australia's governing Labor party's second majority term could mean that changes to the offshore permitting regime promised last year are signed into law, while east coast LNG businesses will avoid a planned reservation system proposed by the opposition. Labor's victory at the 3 May election combined with the election of fewer members from the Greens party and climate-focused independents, could mean it faces less pressure to cancel fossil fuel projects. But it will remain reliant on the Greens to pass laws through the nation's upper house — the senate — meaning Labor may need to negotiate the passage of bills with the leftist party if the Liberal-National-based coalition opposes its measures. The Greens ran on a promise to ban new coal, oil and gas projects but won fewer seats than in 2022 because of preference flows. A federal decision on the lifetime extension of the Woodside Energy-operated 14.4mn t/yr North West Shelf (NWS) LNG delayed by Labor, is now looking more positive for the firm. The firm sees approval as vital to progressing its Browse gas development offshore northwestern Australia. Voters' rejection of the opposition Coalition on the nation's east coast means its policy to reserve a further 50-100PJ (1.34bn-2.68bn m³/yr) from the Gladstone-based LNG exporters will not proceed. The result provides an opportunity for certainty and stability for the energy sector, upstream lobby Australian Energy Producers said. The group urged the government to focus on new supply as Australia's gas reserves for domestic use rapidly deplete. The government will need to specify exactly how it aims to secure supplies to ensure stable supply, once coal-fired generators retire at the end of the 2020s and into the 2030s. This is because the nation's integrated system plan is based on Labor's policy of reaching 82pc renewable energy in the power grid, backed up by about 15GW of gas-fired power. Industry will await further direction stemming from the Future Gas Strategy which canvassed solutions to Australia's declining gas supply including new pipelines, storage and seasonal LNG imports. Permitting concerns In the government's previous three-year term, a series of court-ordered requirements to consult with affected Aboriginal groups briefly disrupted multi-billion dollar LNG developments. Labor promised to specify through new laws exactly which groups must be consulted before approvals could be granted. But these were dropped from the agenda in early 2024 following opposition by the Greens. Labor's resources minister Madeleine King blamed the Greens for obstructionist manoeuvres on this legislation, but it remains unclear if and when Labor might introduce such laws. Conversely, the Coalition promised to end government support for anti-gas lobbies such as law group the Environmental Defenders Office — set to continue under Labor. In liquid fuels, Labor's victory should boost Australia's electric vehicle (EV) sales, with emissions standards laws set to remain enforced. The Coalition had said it would soften the laws because of concern over cost of living pressures. Plans to temporarily cut the fuel excise will also not progress. Australia's EV take-up has stalled, and industry has blamed this on poor investment in recharging infrastructure and other policy settings, including the removal of the fringe benefits tax exemption for plug-in hybrid car models. A re-elected Labor government is likely to further policy towards a mandate for sustainable aviation fuel or renewable diesel, given the growing share of Australia's emissions projected to come from the transport industry. It pledged A$250mn ($162mn) for low-carbon liquid fuels development in March , for low-carbon liquid fuels development in March, as part of its commitment to the nascent sector. Local market participants are optimistic that further biofuels support will be provided as urgency to meet net zero ambitions builds, including a 2030 target of 43pc lower emissions based on 2005 levels. About A$6bn/yr of feedstocks like canola, tallow and used cooking oil are exported from Australia, while existing ethanol and biodiesel producers are running underutilised plants, making about 175mn litres/yr at present, because of poorly-enforced blending mandates. By Tom Major Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Japan’s Sojitz to enter biomethane production in India
Japan’s Sojitz to enter biomethane production in India
Tokyo, 30 April (Argus) — Japanese trader Sojitz has decided to fund Indian biomethane producer IOC GPS Renewables (IGRPL), in efforts to enter biomethane production and sales in India. IGRPL's biomethane project requires over $400mn, Sojitz announced on 30 April, but Sojitz declined to disclose the funding amount. IGRPL is a company jointly launched by Indian biomethane plant constructor GPS Renewables and India's state-controlled refiner Indian Oil. Sojitz will conduct the funding in line with these two companies by the end of May, Sojitz told Argus . IGRPL plans to begin operating 30 biomethane plants in India during the 2026-27 fiscal year to 2027-28, targeting 160,000 t/yr of biomethane production. The company first produces biogas, a mixture of methane and CO2, by processing agricultural wastes using bacteria. It then purifies the biogas to be used as biomethane. IGRPL's biomethane plants will mainly use paddy straws as feedstock, which are usually burned in the country after harvesting rice. The produced biomethane is expected to be supplied to domestic gas firms, and those companies will use the biomethane for blending with conventional city gas. This will help to cut greenhouse gas emissions compared with using only conventional gas derived from fossil fuels, Sojitz said. Sojitz does not plan to export this project's biomethane to Japan for now, the company explained to Argus , but will later consider expanding the biomethane business to other regions by utilising GPS Renewables' technologies. By Kohei Yamamoto Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Woodside’s Louisiana LNG signs gas supply deal with BP
Woodside’s Louisiana LNG signs gas supply deal with BP
Sydney, 30 April (Argus) — Australian independent Woodside Energy has signed a long-term supply deal with oil major BP for feedstock gas for the first two stages of its Louisiana LNG project, totalling 16.5mn t/yr, ahead of first production planned for 2029. The agreement is the first in a series of planned deals enabling diversified supply into the three-train Louisiana LNG project, with up to 640bn ft³ (18bn m³) to be piped to the facility via the proposed Line 200, Woodside said on 30 April. Lines 200 and 300 form one of two interstate pipeline schemes proposed as part of the project. The dual 42-inch pipelines running about 37 miles (60 km) and 34 miles respectively from Ragley in Beauregard Parish to Carlyss in Calcasieu Parish, Louisiana, have planned capacity of 4.6bn ft³/d with maximum seasonal capacity of 5.7bn ft³/d, Woodside said. The 96-mile Driftwood mainline pipeline to be built through Evangeline, Acadia, Jefferson Davis and Calcasieu parishes will average 4bn ft³/d, Woodside said. Woodside reached a final investment decision for Louisiana LNG on 29 April after selling down 40pc of the project's infrastructure to US-based investment firm Stonepeak in early April. The facility holds permits for 27.6mn t/yr of capacity, with an eventual total of five trains planned. By Tom Major Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Closed inter-basin arbitrage may boost US LNG to NWE
Closed inter-basin arbitrage may boost US LNG to NWE
London, 28 April (Argus) — Weak demand for US LNG among Asian buyers and an uptick in spot charter rates for LNG carriers could provide a boost to Europe's LNG imports in the coming months. The inter-basin arbitrage for uncommitted US loadings is considered by most firms to be definitively closed for at least the second quarter of the year. This marks a change from early last week, when some traders were looking to market US fob supply to Asian buyers. The 174,000m³ New Nature , for instance, diverted in the mid-Atlantic away from Europe and towards the Cape of Good Hope on 25 April. The waning incentive for inter-basin deliveries reflects weak demand for LNG among buyers in India and China, market participants said. This is despite delivered prices for LNG falling to near $11/mn Btu — typically the level at which second-tier buyers in China start to consider spot imports. And any increase in Asian demand — for instance from South Korea, where LNG stocks are low — may not require inter-basin deliveries, given that Malaysia's 30mn t/yr Bintulu LNG export terminal looks likely to return to operations by the end of April. The terminal has experienced production issues since mid-April. An uptick in spot charter rates for LNG carriers in the Atlantic basin may also disincentivise firms from sending uncommitted cargoes from the US to Asia. Prompt charter rates for two-strokes — the most common carrier type for US loadings — and tri-fuel diesel-electric (TFDE) vessels have both held at historic lows since the start of the year, as the delivery of newbuild LNG carriers has outpaced the start-up of new liquefaction capacity. But charter rates for both vessel types increased to their highest since October late last week on fears of an uneven positioning of LNG vessels in late May. This stems from planned maintenance at France's Dunkirk and Belgium's Zeebrugge terminals, which is likely to cause delays to some deliveries and could result in carriers being delayed in returning to the US Gulf for loadings in late May, according to market participants. An LNG carrier typically requires 21 extra days to sail from the US' Freeport terminal to South Korea's Incheon via the Cape of Good Hope compared with the UK's Milford Haven, assuming a sailing speed of 17 knots. The additional sailing days to deliver to Incheon translates to an extra shipping cost of around 92¢/mn Btu, based on Friday's charter rates for TFDE carriers. The extra cost was 77¢/mn Btu on 22 April, before last week's increase in charter rates. That said, some market participants view the recent step-up in charter rates as temporary, given that the uplift is principally caused by uneven positioning rather than an outright shortage of vessels. Many traders expect the repositioning of vessels to occur by early June. European LNG buyers may also experience increasing competition with Asia in the third quarter, as Asia's gas demand for cooling steps higher. By Cerys Edwards Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
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