Malcolm Roberts discusses the current state of the industry and offers some predictions for 2018 ahead of the next APPEA Conference & Exhibition, 14 – 17 May 2018.
This year has been a challenging year for the industry with many companies emerging from a painful adjustment to the new ‘lower for longer’ price environment.
We are now seeing the launch of exciting offshore and onshore projects along with a wave of acquisitions. Attention is increasingly shifting to the long-term future of traditional basins, such as the Gippsland and Cooper, as well as the prospects for projects in new places such as the Beetaloo and the Great Australian Bight.
Thanks to the energy policy debate, there is now greater recognition of the importance of natural gas for energy security and the transition to lower emissions.
At APPEA, we predict 2018 to be a decisive year for climate change policy – while the government is contemplating a new, regulatory approach in the form of the national electricity guarantee, the opposition seems to still support large renewable energy targets and a carbon-pricing mechanism.
In 2018, State and Territory governments will have an opportunity to step back from the self-destructive course of locking up onshore gas reserves – in WA, NSW, Victoria, and the Northern Territory. It is becoming more and more obvious that short-term political decisions to stop local projects are locking in unnecessarily tight supply and higher prices.
Our APPEA Conference is the one event for the entire industry to assemble to consider strategic choices and do business – particularly important at this juncture in the market. Not being part of that conversation puts businesses at risk of missing their next opportunity.
With so much happening in oil and gas, the APPEA Conference will host a cast of insightful speakers and unrivalled opportunities for business to business networking from 14 – 17 May 2018 at the Adelaide Convention Centre. Hope to see you there.