Search results

Absolutely, that makes such a policy very popular... hence "populist" That benefit just comes at the expense of everyone in the industry, including the govt through reduced royalties. You can't keep doing it forever for that reason... It does nothing for the development of alternative...

Hi Ausprop We export gas and import oil. Broadly speaking the price of gas is linked to the price of oil, so what is the problem? If we import a bit more oil and export a bit less gas, we will still be in the same net position. What have we gained other than a nice warm and fuzzy false...

Indeed - $1 when IO made the call and $1.40 now - not bad! My comments about Griffin seem to have been self fulfilling! :p

Boz we've been down this track before in this very thread. Volume and price certainty is required in a "base" gas offtake contract/s of this nature to get projects of this magnitude over the line. That is the very reason why gas prices for the domestic retail market have stayed so low in WA -...

Of course I don't... Really? I guess the fact that Chevron waited for those gas contracts to come through before announcing the project means nothing. Or that their counterparties have excellent credit ratings, often backed by national governments. Thank you for dazzling me with your...

That is not correct. Developments of this nature don't happen without certainty on offtake pricing and volumes. That is why us Perth residents have been enjoying very low gas prices for so long (well under market now) as those prices were locked in at the time of the NWS development. It's...

I get between $6bn - $7bn per year based on a circa $8/GJ current gas price. I imagine their actual price would be higher. Keep in mind though that Chevron have never actually said what the project CAPEX is estimated to be either. Colin Barnett dropped the $50bn figure once and it has stuck...

Well it looks like 12 out of 15 million tonnes per year is enough after all... It's on for young and old! Link here. Enjoy the ride everyone... I imagine Elwood will do very well out of it! :rolleyes:

Well, now there is another 2.5 million tonnes under contract... totalling 11.5m tonnes out of 15. Keeps getting closer! Sales agreements coming thick and fast! It's all good... :)

I don't mind that tag line! :) Seriously though, Gorgon has about 9 million tonnes per year of its 15 million tonne per year output under contract now. IMO taking spot market risk on 40% of your project output is high but this all depends on where the JV participants see the supply / demand...

Not quite... it is probably more accurate to say the only thing standing in the way of this project now is itself! As per here the JV partners have still not committed to build it... If they were ready to build straight away, you can bet an announcement to that effect would have been made...

Hi BC The jury is still out on what Gorgon would mean for Karratha if anything - the whole shebang will be run from Barrow Island with only some supplies coming through Dampier... Pluto on the other hand... is a bit of an unknown as far as expansion goes. Don Voelte makes an interesting...

Aye karumba! I'm getting giddy... these guys must be seeing worldwide demand for gas going through the roof. Seems fair enough to me... it's all good! :)

Still not convinced! From the article you linked: "Mr Ferguson's presence at the signing gives the clearest indication yet that the Federal Government will give final environmental approval for the project. Environment Minister Peter Garrett is expected to sign off on it next month." I...

C'mon fellas - it's a little early to pop the champagne corks! Two remaining issues (as pointed out already in this thread!) - Peter Garrett - The Final Investment Decision by the JV partners... The first one looks a bit like a shoe in now with the PM talking up the prospects and...

Chevron and co have gone awful quiet on it all though - if they were confident of a positive FID you would think they would be talking about it a bit more like they used to... ? Don't here a peep from them these days - don't want to increase expectations? Nice to have the approvals lined up...