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: A loss for the Australian gas consumer and a win for Santos

IEEFA update: A loss for the Australian gas consumer and a win for Santos

Why fracking Narrabri is no solution for cheaper energy or cutting emissions

Gas is back on the national agenda.  A deal between the Prime Minister and NSW Premier asks the state to “target” production of “an additional 70 petajoules” of gas a year in return for $960 million in federal grants or loans – to be matched by $1.01 billion in funding from the NSW government – to […]

February 10, 2020 Read More →
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IEEFA Australia: PM is locking Australians into high gas prices and a carbonised future 

Federal government deliberately playing to fossil fuel donors

31 January 2020 (IEEFA Australia) ‒ Prime Minister Scott Morrison’s announcement this morning of opening up more gas will lock in 30 years of gas/LNG infrastructure and supply and hence, a very uncertain future. Bruce Robertson, gas/LNG analyst with the Institute for Energy Economics and Financial Analysis (IEEFA) says there is a high risk these […]

IEEFA update: The staggering cost of gas in Australia

IEEFA update: The staggering cost of gas in Australia

A dozen fast facts

1.    Australia is the largest LNG exporter in the world. Australia is the leading global net exporter of gas, with exports from both the east and west coast of Australia. Qatar and the U.S. are the next lead exporters. 2.    Gas prices on the eastern coast of Australia are higher than global parity. Domestic gas […]

High-Cost Narrabri Gas of No Value to Santos or Consumers

Australian Project Unlikely to Reach Commercialization

Feb. 2, 2017 — Santos’ Narrabri CSG project, which lodged its Environmental Impact Study (EIS) this week, remains unlikely to ever reach commercialization, according to the Institute for Energy Economics and Financial Analysis (IEEFA). “The project has been a massive loss-making investment for both Santos and its original partner TRUenergy,” said IEEFA analyst Bruce Robertson. “After […]

February 1, 2017 Read More →
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 →
Foreign-owned miners should pay their dues

Foreign-owned miners should pay their dues

Tim Buckley, Newcastle Herald –  NEWCASTLE – “The recent article in the Newcastle Herald by Michael West (Glencore tax bill on $15b income: zip, zilch, zero) brilliantly highlighted a harsh truth: when it comes to paying tax, multinationals play by their own rules. Be it Glencore, Facebook or Google, these companies work primarily for their […]

July 1, 2014 Read More →
Briefing note: Fossil fuels, energy transition, and risk

Briefing note: Fossil fuels, energy transition, and risk

Briefing note: Fossil fuels, energy transition, and risk (pdf) By Tim Buckley,  Director of Energy Resource Studies, Australasia, IEEFA

April 18, 2014 Read More →