Santos

IEEFA Research

IEEFA Update: Santos won’t solve the problem of Barossa LNG with carbon capture and storage

IEEFA Update: Santos won’t solve the problem of Barossa LNG with carbon capture and storage

Leaving the ‘dirty’ gas in the ground might now be the best course of action

20 October 2021 (IEEFA Australia): Even if it employed carbon capture and storage, Barossa gas will continue to release financially risky carbon dioxide emissions onsite, onshore and across the supply chain, making it one of the more expensive and dirtiest gas projects in the world, finds a new report from the Institute for Energy Economics […]

IEEFA: $5.1 billion spend on offshore gas exploration until 2027 could have fostered 2.5GW of renewable capacity and 4,800 jobs

IEEFA: $5.1 billion spend on offshore gas exploration until 2027 could have fostered 2.5GW of renewable capacity and 4,800 jobs

The government is increasing issuance of gas exploration permits in the offshore sector ignoring risks imposed by global decarbonisation

20 September 2021 (IEEFA Australia): Increasing issuance of exploration permits over production, the Australian government has given the green light to oil and gas giants including Santos and Woodside to potentially spend $AUD5.1 billion throughout the next six years on risky offshore exploration activities despite industry-low success rates and the global energy transition, finds a […]

IEEFA: Santos’ Barossa gas field emissions create major risks for shareholders 

IEEFA: Santos’ Barossa gas field emissions create major risks for shareholders 

With export markets' changing expectations, investors and industry beware

31 March 2021 (IEEFA Australia): Santos’ proposed offshore Barossa gas field near Darwin, Northern Territory has the unfriendly tag of having more carbon dioxide than any gas currently made into LNG, finds a new report from the Institute for Energy Economics and Financial Analysis (IEEFA). The gas contains so much CO2 that most of it […]

IEEFA update: Australia’s gas-led recovery is flogging a dead horse

With LNG worse for the climate than coal, Australia must adjust to our export markets shrinking

With polluting emissions from LNG 13% higher than gas, and Australia’s primary export destinations targeting net zero emissions and therefore less dirty LNG, Australia’s gas-led recovery is looking increasingly like the Australian government is ‘flogging a dead horse’. Australia’s core export markets for LNG, coal and iron ore – Japan, South Korea and China – […]

November 3, 2020 Read More →
IEEFA Australia: Gas and electricity prices will rise if Narrabri gas fields approved

IEEFA Australia: Gas and electricity prices will rise if Narrabri gas fields approved

29 September 2020 (IEEFA): Australian gas consumers will likely see higher, rather than lower gas prices if Santos’ Narrabri gas fields are approved due to the distance the gas must travel to reach consumers on infrastructure that will need to be built. Gas/LNG financial analyst Bruce Robertson concludes the proposed Narrabri gas fields are uneconomic […]

IEEFA Australia: The state of NSW should not sponsor a loss-making, wealth destroying industry

IEEFA Australia: The state of NSW should not sponsor a loss-making, wealth destroying industry

The Narrabri gas project must be rejected

26 August 2020 (IEEFA Australia): The NSW Independent Planning Commission (IPC) will have no other avenue but to reject the proposed coal seam gas project in Narrabri, New South Wales after assessing the clear and unequivocal evidence surrounding the many economic and environmental, social and governance issues related to the proposal, notes the Institute for […]

IEEFA Australia: Auditors take note – Santos’ accounts misleading since 2014

Oil price assumptions contained in the annual accounts have been consistently over optimistic

The oil price assumptions on which Australia’s second-largest independent oil and gas producer Santos bases its accounts have been overly optimistic every year since 2014, finds a new briefing note by the Institute for Energy Economics and Financial Analysis (IEEFA) In IEEFA’s opinion, Santos’ latest accounts to be voted upon on 3 April 2020 and […]

IEEFA: Volkswagen lied about emissions from their vehicles, and the gas industry is also lying about their emissions

5 March 2020 (IEEFA Australia): The gas industry is misleading government, investors, customers and the broader population about the amount of carbon dioxide and methane emissions being released during production, supply and distribution of both conventional or ‘natural’ gas and its product for export – liquefied natural gas (LNG), finds a new report out today […]

IEEFA update: Santos loses $7 billion in write-offs in 5 years

IEEFA update: Santos loses $7 billion in write-offs in 5 years

Government backs a losing company, and a losing industry

19 February 2020 (IEEFA Australia): Australian energy company Santos which owns the yet to approved government-backed Narrabri gas fields in New South Wales has suffered $6.9 billion in write-offs on Australian coal seam gas (CSG), shale gas and its ill-fated CSG to LNG project at Gladstone in just five years and a further $58 million […]

Briefing note: The Narrabri Coal Seam Gas Project

Briefing note: The Narrabri Coal Seam Gas Project

Briefing note: The Narrabri Coal Seam Gas Project (pdf) By Tim Buckley, Director of Energy Finance Studies, Australasia

December 9, 2014 Read More →

More News and Commentary

IEEFA Update: Santos won’t solve the problem of Barossa LNG with carbon capture and storage

IEEFA Update: Santos won’t solve the problem of Barossa LNG with carbon capture and storage

Leaving the ‘dirty’ gas in the ground might now be the best course of action

20 October 2021 (IEEFA Australia): Even if it employed carbon capture and storage, Barossa gas will continue to release financially risky carbon dioxide emissions onsite, onshore and across the supply chain, making it one of the more expensive and dirtiest gas projects in the world, finds a new report from the Institute for Energy Economics […]

Asia natural gas producers launch program to “advise governments”

Manifold Times: The Morrison government has increased support for controversial fossil fuel projects that promise to capture and store carbon dioxide emissions by approving a plan to award them carbon credits. The Asia Natural Gas and Energy Association (ANGEA) has been launched during the 10th Annual LNG Producer Consumer Conference on 5 October 2021. The […]

October 5, 2021 Read More →

Morrison boosts support for carbon capture with tax credits

The Guardian: The Morrison government has increased support for controversial fossil fuel projects that promise to capture and store carbon dioxide emissions by approving a plan to award them carbon credits. It followed the oil and gas company Santos saying a proposed carbon capture and storage (CCS) project at its Moomba gas well in South […]

October 4, 2021 Read More →
IEEFA: $5.1 billion spend on offshore gas exploration until 2027 could have fostered 2.5GW of renewable capacity and 4,800 jobs
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IEEFA: $5.1 billion spend on offshore gas exploration until 2027 could have fostered 2.5GW of renewable capacity and 4,800 jobs

The government is increasing issuance of gas exploration permits in the offshore sector ignoring risks imposed by global decarbonisation

20 September 2021 (IEEFA Australia): Increasing issuance of exploration permits over production, the Australian government has given the green light to oil and gas giants including Santos and Woodside to potentially spend $AUD5.1 billion throughout the next six years on risky offshore exploration activities despite industry-low success rates and the global energy transition, finds a […]

Santos sued by shareholders over fossil expansion despite claims

The Guardian: A shareholder activist group is taking Australian oil company Santos to court over its claims it produces “clean fuel” and plans to reach net zero emissions by 2040. Papers were filed against Santos – Australia’s second largest independent oil company – on Thursday by the Environmental Defenders Officers acting on behalf of the […]

August 26, 2021 Read More →
IEEFA: Santos’ Barossa gas field emissions create major risks for shareholders 
and

IEEFA: Santos’ Barossa gas field emissions create major risks for shareholders 

With export markets' changing expectations, investors and industry beware

31 March 2021 (IEEFA Australia): Santos’ proposed offshore Barossa gas field near Darwin, Northern Territory has the unfriendly tag of having more carbon dioxide than any gas currently made into LNG, finds a new report from the Institute for Energy Economics and Financial Analysis (IEEFA). The gas contains so much CO2 that most of it […]

IEEFA: Australia’s US$40.5 billion clean up bill for its offshore oil and gas industry

IEEFA: Australia’s US$40.5 billion clean up bill for its offshore oil and gas industry

Much of the cost will fall on the Australian government via the tax system

Australia’s US$40.5 billion clean up bill for offshore oil and gas wells and facilities will cost US$40.5 billion, with half of the work starting this decade, according to a report produced with the support of major Australian operators. Equipment to be removed includes 57 platforms with a total weight of 755,000 tonnes, equivalent to the […]

IEEFA Australia: Narrabri gas project’s lack of social licence will make pipeline approval problematic

IEEFA Australia: Narrabri gas project’s lack of social licence will make pipeline approval problematic

Embedding gas infrastructure for the next 30 years remains a poor investment decision

Santos’ controversial Narrabri gas project in northern New South Wales received final federal government approval yesterday, despite a record number of objections to the project. In investment there are three factors bankers and investors assess before making an investment. They look at environmental, social and governance (ESG) factors and this project clearly fails the social […]

November 25, 2020 Read More →

IEEFA update: Australia’s gas-led recovery is flogging a dead horse

With LNG worse for the climate than coal, Australia must adjust to our export markets shrinking

With polluting emissions from LNG 13% higher than gas, and Australia’s primary export destinations targeting net zero emissions and therefore less dirty LNG, Australia’s gas-led recovery is looking increasingly like the Australian government is ‘flogging a dead horse’. Australia’s core export markets for LNG, coal and iron ore – Japan, South Korea and China – […]

November 3, 2020 Read More →
IEEFA Australia: As our export partners pull out, Origin and Inpex keep kicking the gas can down the road

IEEFA Australia: As our export partners pull out, Origin and Inpex keep kicking the gas can down the road

Japan will cease to be a major buyer of Northern Territory gas

Ask anyone in business what the first rule of thumb is and they’ll tell you straight: you have to listen to what your customers want. Simple, right? But that’s exactly what two of the biggest names in the Northern Territory gas industry, Origin and Inpex, are failing to do. They’re pushing to open up huge […]

October 28, 2020 Read More →