On 21 May Santos Rejected Harbour Energy’s (Harbour) offer to purchase 100% of shares at US$5.21 per share.
Australian Industrial Energy, the Andrew Forrest venture that will see Port Kembla in NSW developed into an LNG import terminal reached significant milestones in recent weeks. These include receiving backing from Japanese energy giant JERA and signing a memorandum of understanding with 12 potential customers (according the AFR). Project development is still subject to approvals.
AEMO recently released its Victoria Gas planning report update that painted a concerning outlook in respect of depletion of offshore gas fields reserves. The data provided to AEMO from producers in the Gippsland basin, forecast production to reduce to 38% below the 2018 production forecast and 68% for Port Campbell.
APA received a conditional $13 billion bid for takeover by Hong Kong based CK Group. The offer comes at a critical time as the gas transmission industry remains under review by the ACCC in an enquiry into east coast gas prices.
With the exception of Brisbane, STTM and VIC Gas Hub; prices for the last 30 days are sitting below prices seen for the same period last year.
The 30 day moving average is higher which is to be expected as gas prices are higher in winter as a result of increased demand for heating.