Already a subscriber?ExxonMobil has rubbished the popular idea that diverting gas from Queensland’s LNG export industry into the local market could relieve looming shortages of gas on the east coast, instead urging a renewed focus on policy that supports Australia’s energy security.
It could take up to two years to apply for and receive a drilling permit in Australia, compared with less than a month for an onshore permit in the United States, and less than two months for an offshore one, he said. Cooper Energy CEO Jane Norman estimated that the price cap had put new supply back by two to three years, deterring international investors as joint venture partners in domestic gas developments.At the Esso/Woodside Gippsland Basin joint venture, Mr Berman cautioned that much of the production expected from the Bass Strait this decade still hinged on investment decisions yet to be made, underscoring the importance of policy settings.
“We would expect pretty strong interest, but it’s up to buyers that they get consistent with the code,” said Mark Abbotsford, Woodside’s executive vice president, marketing and trading.