The US and Australia have signed an arrangement, laying the groundwork for Australia to lease space in the US Strategic Petroleum Reserve (SPR) to store and access Australian owned oil, enhancing international energy security and resiliency.
CSIRO, Australia’s national science agency, published a report mapping the critical research steps Australia has to take to realize a hydrogen industry it says is potentially worth A$11 billion ($7.5 billion) a year by 2050.
Viva Energy Australia is now in line with IMO’s regulation on sulphur fuel oil, as it launched its new very low sulphur fuel oil (VLSFO), after successful trials by customers which will be available in Melbourne and Geelong from October 2019.
The climate impact of Australia’s fossil fuel exports ranks behind only Russia and Saudi Arabia exports in terms of global emissions, a major new report from the Australia Institute Climate & Energy Program explains. The new research also concludes that in absolute terms Australia is the world’s fifth largest miner of fossil fuels.
In a bid to boost Australia’s alarmingly low domestic fuel stocks, the Australian government is negotiating with the Trump administration to buy millions of barrels of oil from the US’ tightly guarded fuel reserve. This follows a report by MUA raising concerns on the country’s extremely low liquid fuel reserves.
Construction has begun on liquefaction facilities linked to the Hydrogen Energy Supply Chain (HESC) project at Port Hastings in Victoria, which will look at the feasibility of turning brown coal from the Latrobe Valley into hydrogen, which would then be liquefied and exported to Japan. The project has the potential to create $2 billion in exports for Australia.
According to a Banchero Costa report, China is on the path of surpassing Japan this year as the world’s top importer of LNG. In 2018, China retained its position as the second largest importer, globally, of the commodity after Japan, surpassing South Korea in 2017.
Australian Industrial Energy announced it has granted the contract for construction of its Port Kembla Gas Terminal’s wharf and pipeline to the SCSB joint venture. The construction of the new wharf facilities and pipeline could see subcontracts worth about $76 million awarded to businesses in the Illawarra.
Australian Industrial Energy (AIE) has reached a preliminary agreement with EnergyAustralia to supply 15PJs of natural gas per annum from its Port Kembla gas terminal (PKGT). Beginning on 1 January 2021, the five-year contract will provide gas for EnergyAustralia as well as for electricity.
Australia’s New South Wales (NSW) Government announced it has awarded Development Consent to AIE’s Port Kembla Gas Terminal. The decision by the NSW Minister for Planning comes after a thorough review of the Project’s Environmental Impact Statement (EIS).
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