EnergyQuest monthly LNG report

2021 records peak LNG export

In 2021, Australia exported a record quantity of LNG at 80.9 million tonnes, based on shipping data from EnergyQuest.  “Exports were up by 3.7% on the 78.0 Mt exported in 2020, and also higher than the 77.6 Mt exported in 2019, before the pandemic,” EnergyQuest chief executive Graeme Bethune wrote.  “In the current world of …
Santos cooper basin

Santos hits half-year production record

Santos has announced its half-year results for 2021, reporting record production of 47.3 million barrels of oil equivalent (mmboe) and record sales volumes of 53.8 mmboe. Managing director and chief executive officer Kevin Gallagher said Santos delivered record production and sales volumes in the first half of 2021, and strong free cash flow of $US572 …
Santos

Santos production strong despite sell-downs

Santos managing director and chief executive officer Kevin Gallagher said the company has delivered a strong quarter of production, sales volumes and revenues, as the business benefited from stronger demand and higher prices. Outlined in its second quarterly report, Gallagher advised that its disciplined, low-cost operating model continues to drive strong performance. “Consistent with our …
Bayu-Undan Field

Santos to make Bayu-Undan drilling investment

Santos will spend $US235 million ($306 million) on the Phase 3C infill drilling program at the Bayu-Undan field offshore Timor-Leste after confirming it has made a final investment decision on the project. The program in the Timor Sea includes three production wells (two platform and one subsea) and will develop additional natural gas and liquid …

Santos set for decision on Barossa LNG project

Santos is on track to make a final investment decision (FID) on the Barossa LNG project offshore northern Australia by the end of the year. The decision remains subject to business conditions, joint venture agreements and relevant approvals. Santos, in a September quarter update, reported that the Barossa project was well progressed on value engineering …

LNG exports remain strong amid COVID-19

Australia’s liquified natural gas (LNG) exports are holding at near-record levels despite the global surplus of LNG and the contraction of economic activity due to COVID-19, according to EnergyQuest. Outlined in its June report, Queensland’s LNG projects maintained gas production and exports were at a high level in the first quarter, with rates continuing into …

Subsea 7 set to restructure workforce

Subsea 7 has announced that 3000 staff from its workforce will be put off by the end of the second quarter in 2021 in order to save costs. The company anticipates that two-thirds of the reduction would affect its non-permanent workforce and one-third of the reduction would affect permanent employees. Subsea 7 reported that discussions …

Santos reconsiders Barossa investment decision

Santos expects to defer a final investment decision (FID) on the Barossa liquefied natural gas (LNG) project in northern Australia due to the uncertain economic impact of COVID-19 combined with the lower oil price. Chief executive officer and managing director Kevin Gallagher said the company’s short-term goals would remain focused on the health and safety …