Australia Oil and Gas Report

 Published On: Sep, 2016 |    No of Pages: 90 |  Published By: BMI Oil and Gas | Format: PDF
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BMI View: Australia is well on course to become the largest LNG exporter in the world as it awaits the commencement of three new LNG projects over the next two to three years. The country will overtake Qatar by 2019. The heavy volume of existing gas reserves tied to exports have driven up domestic gas prices and increases risks of a supply shortage at home, though government plans to increase investment in gas distribution infrastructure and make more supplies available for local consumption by accelerating onshore developments provide cause for optimism.

Latest Updates And Key Forecasts
-In its H116 earnings, Santos booked an impairment charge of USD1.0bn on its Gladstone LNG project due to slower-than-anticipated ramp-up in gas output and increase in the price of third-party gas
supplying the terminal.
-Australia is on course to overtake Qatar by 2019 to become the largest LNG exporter in the world. We expect to see three new projects come online over the next two-three years, namely Chevron's Wheatstone LNG, Inpex's Ichthys LNG and Shell's Prelude FLNG offshore Western Australia.
-While we see limited scope for large-scale refining capacity additions in the coming years, small-scale projects targeting provincial fuel distribution opportunities will provide a small boost to total refining capacity over the coming years. One such example is ExxonMobil's proposed expansion of its Altona refinery in Victoria by 10,000b/d.
-Proposed reforms in the domestic gas sector at the August 2016 COAG Energy Council meeting could see improvements made over subsequent years, including greater transparency over pricing, better gas distribution infrastructure nationwide. State ministers also agreed to work on lifting the blanket ban on fracking activities, with the exception of Victoria.
BMI Industry View . 7
Table: Headline Forecasts (Australia 2014-2020) . . 7
SWOT .. 8
Oil & Gas SWOT ..... 8
Industry Forecast  10
Upstream Exploration ...... 10
Latest Updates ..... 10
Structural Trends . 10
Table: Recoverable Shale Oil And Gas . . . 13
Table: Proven Oil And Gas Reserves (Australia 2014-2019) 16
Table: Proven Oil And Gas Reserves (Australia 2020-2025) 16
Upstream Projects . 17
Table: Australia - Key Upstream Projects 17
Upstream Production - Oil  30
Latest Updates ..... 30
Structural Trends . 30
Table: Oil Production (Australia 2014-2019) . 31
Table: Oil Production (Australia 2020-2025) . 32
Upstream Production - Gas ......... 32
Latest Updates ..... 32
Structural Trends . 32
Table: Gas Production (Australia 2014-2019) 35
Table: Gas Production (Australia 2020-2025) 35
Refining ..... 35
Latest Updates ..... 35
Structural Trends . 36
Table: Refining Capacity And Refined Products Production (Australia 2014-2019) . 38
Table: Refining Capacity And Refined Products Production (Australia 2020-2025) . 38
Refined Fuels Consumption ......... 38
Latest Updates ..... 38
Structural Trends . 39
Table: Refined Products Consumption* (Australia 2014-2019) . . 41
Table: Refined Products Consumption* (Australia 2020-2025) . . 41
Gas Consumption .. 42
Latest Updates ..... 42
Structural Trends . 42
Table: Gas Consumption (Australia 2014-2019) . . . 45
Table: Gas Consumption (Australia 2020-2025) . . . 46
Trade - Oil . 46
Crude Oil . 46
Latest Updates ..... 46
Structural Trends . 46
Table: Crude Oil Net Exports (Australia 2014-2019) . . . 48
Table: Crude Oil Net Exports (Australia 2020-2025) . . . 49
Refined Fuels ...... 49
Latest Updates ..... 49
Structural Trends . 49
Table: Refined Fuels Net Exports (Australia 2014-2019) . . . . 51
Table: Refined Fuels Net Exports (Australia 2020-2025) . . . . 52
Trade - Gas (Pipeline and LNG) ... 52
Latest Updates ..... 52
Structural Trends . 52
Table: Gas Net Exports (Australia 2014-2019) . . . . 54
Table: Gas Net Exports (Australia 2020-2025) . . . . 54
Industry Risk Reward Index ... 55
Asia - Risk/Reward Index .. 55
Table: Asia's Oil & Gas Risk/Reward Index . . . 55
Table: Asia: Upstream Risk/Reward Index . . . . 58
Table: Asia: Downstream Risk/Reward Index . 60
Australia - Risk/Reward Index ...... 62
Upstream Index - Overview ........ 62
Upstream Index - Rewards ......... 62
Upstream Index - Risks ... 62
Downstream Index - Overview .... 63
Market Overview . 64
Australia Energy Market Overview ......... 64
Regulatory Regime ......... 64
Fiscal Regime ...... 66
Table: Key Fiscal Indicators . . . . 66
Licensing Rounds . 66
Table: 2016 Release Areas . 66
Oil & Gas Infrastructure ... 68
Table: Oil Refineries In Australia . . . 68
LNG Terminals .... 68
Table: LNG Terminals In Australia . . 68
Competitive Landscape  70
Table: Australian Refining Capacity By Player . . . . 71
Company Profile .. 72
Santos ....... 72
Table: Major Current Assets . . . . 73
Table: Santos Limited - Key Financial Data . . 73
Woodside Petroleum ........ 74
Table: Major Current Assets . . . . 75
Table: Woodside Petroleum - Key Financial Data . 75
Regional Overview ........ 76
Asia - Positive Gas Output Growth In Conflict With Bearish Oil Outlook ......... 76
Glossary ..... 83
Table: Glossary Of Terms . 83
Methodology ........ 85
Industry Forecast Methodology .. 85
Source ..... 87
Risk/Reward Index Methodology . 87
Table: Bmi's Oil & Gas Upstream Risk/Reward Index . . 89
Table: Weighting 90
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