AUSTRALIA

GLNG short of gas: Total

AN UPSTREAM executive from French supermajor Total SA has confirmed that the Santos-operated Gladstone LNG project needs more gas resources.

GLNG short of gas: Total

Total upstream oil and gas head Yves-Louis Darricarrere discussed the gas supply challenges when he was in Sydney last week.

"We need and we are ready to buy (more gas) but there is a price limit and it is not really economical (at the moment)," he told The Australian.

He reportedly said the joint venture was looking at acquiring more Queensland exploration acreage as an alternative to buying third party gas.

"We have bought some (third party) gas and we have the opportunity to buy (more) at an economical price," he reportedly said.

"At the same time we are looking, to see if we can develop or get some acreage that would be prospective for gas in Queensland."

Santos remains convinced there is enough gas to fuel the two LNG trains of project.

"GLNG has reserves and resources in place suitable for the supply needs of the project," a spokesman reportedly said.

Royal Dutch Shell CEO Ben van Beurden told the newspaper last week that Arrow Energy (50:50 Shell and PetroChina), which shelved its LNG project earlier this year, was still in talks with the other three Curtis Island-based LNG projects that are all under construction.

The $US18.5 billion ($A19.7 billion) GLNG project is targeting 7.8 million tonnes per annum of LNG with first exports in 2015.

The GLNG JV consists of Santos (30%), Petronas (27.5%), Total (27.5%) and Kogas (15%).

TOPICS:

A growing series of reports, each focused on a key discussion point for the energy sector, brought to you by the Energy News Bulletin Intelligence team.

A growing series of reports, each focused on a key discussion point for the energy sector, brought to you by the Energy News Bulletin Intelligence team.

editions

ENB CCS Report 2024

ENB’s CCS Report 2024 finds that CCS could be the much-needed magic bullet for Australia’s decarbonisation drive

editions

ENB Cost Report 2023

ENB’s latest Cost Report findings provide optimism as investments in oil and gas, as well as new energy rise.

editions

ENB Future of Energy Report 2023

ENB’s inaugural Future of Energy Report details the industry outlook on the medium-to-long-term future for the sector in the Asia Pacific region.

editions

ENB Cost Report 2021

This industry-wide report aims to understand current cost levels across the energy industry