Commenting on the Santos announcement that itexpects to recognise an impairment of GLNG of approximately US$870 million after tax, predominantly due to lower oil prices, Bruce Robertson, IEEFA Gas/LNG Australasia analyst said:
Responding to the construction of a new 622 km-long Northern Gas Pipeline owned by private business Jemena, Bruce Robertson, Gas/LNG Australasia analyst for the Institute for Energy Economics and Financial Analysis (IEEFA) said:
“Another privately owned pipeline in Australia will only fuel the gas price crisis, not lesson it as the majority of such pipelines are not subject to any pricing regulation and are hideously profitable.
New analysis from the Institute of Energy Economics and Financial Analysis (IEEFA) shows that the Hume Coal project in the Southern Highlands of New South Wales will find it hard to compete with higher-quality coking coal mines in the region.
Commenting on the increase in electricity prices by up to 20% on July 1, Bruce Robertson, Gas/LNG Australasia analyst for the Institute for Energy Economics and Financial Analysis said: “Australians need answers for why gas prices have fallen globally in recent years while here they have risen to levels above the north Asian market, the most expensive market for gas.
Commenting on reports that Energy Minister Piyush Goyal said India would be forced to keep importing coal, including from the proposed Carmichael mine in Queensland, Tim Buckley, Director of Energy Finance Studies Australasia at IEEFA said:
Some Indian power plants may have been designed to run on foreign coal, but they can no longer afford to do so. This can be seen by the economics of Adani Power’s 4.6GW Mundra import coal-fired power plant and Tata Power’s 4.0GW Mundra plant, both of which are no longer competitive.
Commenting on reports that the Carmichael mine has been given the final go ahead from the Adani’s Indian Parent, Adani Enterprises Ltd Tim Buckley, Director of Energy Finance Studies, Australasia for IEEFA said:
Commenting on President Donald Trump’s decision to pull the United States out of the Paris agreement, Tim Buckley, Director of Energy Finance Studies Australasia at Institute for Energy Economics and Financial Analysis (IEEFA) said: “The Paris Climate Agreement is a critical historic milestone, and the result has been an acceleration in investment activity, renewable cost deflation and technology development that has reached critical mass.
Tim Buckley, Director of Energy Finance Studies, Australasia for Institute of Energy Economics and Financial Analysis: The latest political manoeuvrings by Adani has wedged the Queensland government into conceding a massive taxpayer funded $575m loan in the form of a royalty deal. This is yet another taxpayer subsidy to a foreign billionaire, alongside the Federal Government’s Northern Australia Infrastructure Facility (NAIF)’s $900m. However, after seven years of talking, Adani Enterprises has not demonstrated how it intends to reach a legally binding, fully funded “Financial Close” on the Carmichael proposal.