Q: What are your predictions for the industry for 2018?
Recent growth in commodity prices should provide incentive to investment in both oil and gas and indeed the broader resource sector. At the same time strong population growth and improved business confidence should continue to drive investment across the Australian economy.
In the LNG sector there will be an increasing focus on supplying enough gas to local customers, while also keeping LNG trains full in years to come. This shift in focus, from the heavy LNG construction phase of earlier in the decade, will take place in a lower for longer environment. So I expect a high level of scrutiny from investors on driving value in every project.
Q: What are the key factors/challenges/opportunities that business’ need to consider in the next 12 months?
Rising energy costs will continue to challenge businesses across the Australian economy – including energy companies. As producers and exporters of energy, we must remain focused on supplying affordable and reliable energy to local customers. Also as we continue the transition to a lower carbon energy system, businesses in the oil and gas sector must consider whether their investments will be robust through the energy transition.
The good news for our industry is that regional demand for energy, particularly clean burning gas, will increase. The challenge is to make sure Australian exports remain competitive against supply from other markets.
Q: What are the key benefits in someone attending APPEA 2018?
APPEA 2018’s theme is Resilient Business – Success in the New Energy Market. The conference will provide a great opportunity for professionals in the Australian oil and gas sector to hear from international experts and local industry leaders about developments in technology and business aspirations for the future. Along with the topical plenary sessions and industry exhibitions, there will be opportunities to meet and informally discuss ways to improve business performance with both suppliers and venture partners.
I look forward to seeing many of you in Adelaide.
Zoe will deliver the APPEA Chairman’s Address on Tuesday 15 May in the opening session of APPEA 2018, titled – ‘Resilient Business – Success in the New Energy Market’