North West Shelf Australia: Will a change in the competitive mix provide the impetus for new upstream investment?
The North West Shelf ("NWS") of Western Australia is an extensive oil and gas region off the North West coast in the Pilbara region, which has provided the platform for six greenfield LNG developments over a span of three decades (NWS LNG, Pluto LNG, Gorgon LNG, Wheatstone LNG, Prelude LNG and Ichthys LNG). These and other LNG projects, has catapulted Australia into a global LNG leader.
With the key LNG projects now in operation, the focus of the past few years has shifted to backfilling feedstock requirements for NWS LNG and Pluto LNG. With upstream resources within the NWS LNG JV contracts largely depleted, coupled with long-stand JV partner in Chevron Corporation considering an exit, it sets the basis for a change in the competitive mix, and potentially fresh impetus for new upstream investment.
Principal Analyst, Companies and Transactions, IHS Markit
Associate Director, Climate and Sustainability, IHS Markit
Executive Director, Global Upstream Oil & Gas, IHS Markit
Associate Director, E&P Terms and Above-Ground Risk, IHS Markit
Senior Research Analyst, Global Gas Research, IHS Markit
This session will address the following key questions
- What are the key basins and LNG projects that make up the North West Shelf region?
- How is the Western Australia gas demand and supply evolving?
- Are recent above-ground changes conducive for existing/new entrants?
- How is the landscape for new business opportunities evolving for the NWS region?
- How will the gas commercialization options for NWS LNG and Pluto LNG evolve in the coming years?
- Who are the potential buyers of Chevron's NWS LNG stake and what is IHS Markit's indicative valuation?