Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
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"Engendering most debate in the draft report from the National COVID-19 Coordination Commission's manufacturing taskforce is the $4 a gigajoule price target for gas delivered to manufacturers on the east coast."
"The gas belongs to, and should be managed to the benefit of, all Australians."
Well, if that's the case, then why am I (why are we) the one(s) funding the exploration and development through a high-risk investment... why aren't all Australians compelled to invest?
Does the government wish a privatized/socialized hybrid wherein the private sector (us) takes the burden of capital risk, and the government and public gain the material and economic benefits and rewards? It sure sounds like it to me.
But while gas industry chiefs have welcomed the focus on the fuel, they remain very wary of the price target.
"I’d love to be able to sell $4 gas and make a margin that made it worthwhile to do that but we can’t because it doesn’t exist today," Santos chief executive Kevin Gallagher said.
"I’m concerned when we put numbers into the public domain that drive rent-seeking behaviour, and we’ve seen some of that of late."
Origin Energy chief executive Frank Calabria called the $4 target "aggressive", with no evidence it is achievable, and called for care to be taken that the push for competitive gas prices didn't come at the cost of one sector versus another.
"What we need to make sure is that the understanding of the cost of that gas can be economically developed at is one that is sustainable as well, and not an assumption that can’t be met," Mr Calabria said.
"The assumption around $4 gas is very aggressive and there is no evidence today that people are able to bring on incremental developments, put the capital at risk and so forth at those prices."
Still, Mr Bell said $4-$6 gas is what manufacturing needs, and pointed to the taskforce's findings that 3 per cent of Australia's LNG export volumes available in the domestic market would unlock hundreds of thousands of high-paying jobs for Australians.
"So with the budgets that the government has got for the COVID-19 stimulus, there is probably provision in there to work with the gas industry and manufacturing to put in place transitionary measures." he said.
"The gas belongs to, and should be managed to the benefit of, all Australians."
Pipeline owner Jemena warned that the figures of $4 and $6 for gas should be approached very cautiously "as achieving them in the short-term via market intervention will risk stifling medium and long-term investment in new gas sources and infrastructure which will ultimately lead to higher prices for customers".
The taskforce's draft report says a final presentation of recommendations is due in the middle of June, while advice from the Commission to government is expected to be provided on a rolling basis.
end
RG - there u go -
Gas action plan sets up clash over price
Angela Macdonald-Smith May 29, 2020
Engendering most debate in the draft report from the National COVID-19 Coordination Commission's manufacturing taskforce is the $4 a gigajoule price target for gas delivered to manufacturers on the east coast that it says would deliver a boost of up to $20 billion or more in direct GDP, and up to eight times more on the broader economy.
The manufacturing sector could deliver up to 170,000 well-paid jobs in energy-enabled industries and up to five times more jobs in other related industries, said the draft document obtained by The Australian Financial Review.
The "three-phase" journey towards low gas prices involves an initial phase that includes scrapping the moratoria on onshore gas in NSW and Victoria, enforcing "use it or lose it" rules for licences over gas fields, imposing a gas reservation scheme for the Northern Territory and the east coast, and potential fast-track developments of projects in the Beetaloo and Perth Basins in the NT and Western Australia, respectively.
A second phase, targeting an initial reduction in gas prices to $6/GJ includes government underwriting of new gas supply ventures, "revisiting" rates of return on pipelines, and government taking "active, participatory role" in strategic pipelines.
The third phase, aiming for the $4/GJ goal, includes "proactively" attracting foreign investment in gas-using industries, coordinating with hydrogen developments and setting up an "evergreen" taskforce between the Australian Energy Market Operator and the Australian Competition and Consumer Commission to manage implementation and send "clear market signals" on prioritised basins and pipelines.
The manufacturing taskforce's findings are being quietly circulated among industry and stakeholders and will be considered by the National COVID-19 Coordination Commission led by Nev Power before it compiles its report and recommendations for the government as part of the national recovery from COVID-19.
Federal Energy and Emissions Reduction Minister Angus Taylor said gas already plays an essential role in energy reliability, but it could be even more important through a gas-fired recovery.
"We want to have demand for affordable gas matched with priority upstream investment opportunities to bring gas where it is needed and provide economic stimulus," the minister said.
"The government expects new gas generation backed by programs like our Underwriting New Generation Investments program and the $1 billion Grid Reliability Fund to help stimulate gas investment, lower electricity prices and create local jobs."
cont.......
ITg - cheers mate
Can someone paste the text of the article? Thanks
Here is Schlemiel's full article.
https://outline.com/mWW9y8
https://www.afr.com/companies/energy/gas-action-plan-sets-up-clash-over-price-20200528-p54x69
29 May 2020
Public ownership of new gas pipelines, underwritten gas supply projects and a national gas reservation policy are being considered among measures to try to turn back the clock on east coast gas prices and fuel a manufacturing-led economic recovery.
The controversial proposals from the Andrew Liveris-led manufacturing taskforce would take government involvement in the gas supply sector to a new level in Australia and have set the scene for a renewed clash between manufacturers.......cont on subs basis
but does mention the fast-tracking of Beetaloo on Google search. It's now just a matter of time