Santos plans to develop the CO2-rich Barossa field to supply gas to its Darwin LNG plant that otherwise will have no gas in the early 2020s when production from Bayu Undan ceases.
Carbon capture and storage
Australian LNG producers are under pressure on emissions and decommissioning, and Santos wants to tackle both problems in one swoop at Bayu Undan, but it needs everyone to play along.
APPEA 2021 Perth
Santos says attacks on its heavily-polluting Barossa LNG project "should be taken with a grain of salt" but will not substantiate its own claims that emissions have reduced.
Carbon capture and storage
Santos and ENI are looking for solutions for CO2 and removing old facilities in the waters north of Darwin. Time will tell if the problems are solved or just delayed.
COVID-19
The Australian oil and gas industry shed about 3000 jobs in 2020, a far deeper cut than the national average, leaving the offshore safety regulator NOPSEMA worried about lack of maintenance.
Carbon capture and storage
A year after Inpex rejected carbon capture and storage at Ichthys LNG as unaffordable it is an essential element in its new drive to slash emissions by 2030.
Carbon Emissions
South Korea, Japan and China's tightened climate goals will crunch Australian thermal coal, make LNG investments harder and possibly kill Santos' Barossa LNG project.
LNG
Barossa would produce Australia's dirtiest LNG and if other companies will not back it Santos has a very expensive problem.
LNG
Woodside's Scarborough and Santos' Barossa LNG projects unlikely to happen this year as planned according to oil and gas experts Wood Mackenzie.
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Maintaining social license for oil and gas keeps executives awake at night according to industry lobby group APPEA that is researching how to fix the problem
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Woodside and ConocoPhillips are gravitating toward the cheapest development options for their Browse and Barossa gas fields to compete with low-cost Qatar.
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Australia's Petroleum Resources Rent Tax has incredibly generous annual uplifts in allowable deductions that will likely see little or no payments from its offshore LNG projects.