Australian emission plans will fuel expansion of gas-to-power
New South Wales will rely on coal seam gas and/or imported LNG to form the core of its plan to reduce emissions and electricity prices
The Australian government agreed the first of a series of emission-reduction plans with its constituent states on 31 January, when it agreed A$2bn plan with its most populous state New South Wales (NSW). The deal’s cornerstone is substantial support for an increase in gas for electricity generation. While the memorandum of understanding (MoU) is not legally binding, the east coast state has “set a target to inject an additional 70 pj/yr of gas” into its market. In exchange NSW will receive A$0.9bn in federal contributions—in a combination of grants, loans and guarantees—towards its A$2bn grid upgrade and renewable energy investment plan. Gas consumption in NSW is projected to rise from 120 p
Also in this section
24 January 2025
Domestic companies in Nigeria and other African jurisdictions are buying assets from existing majors they view as more likely to deliver production upside under their stewardship
23 January 2025
The end of transit, though widely anticipated, leaves Europe paying a third more for gas than a year ago and greatly exposed to supply shocks
23 January 2025
The country’s government and E&P companies are leaving no stone unturned in their quest to increase domestic crude output as BP–ONGC tie-up leads the way
22 January 2025
The return of Donald Trump gives further evidence of ‘big oil’ as an investable asset, with the only question being whether anyone is really surprised
