• 6 minutes Can the World Survive without Saudi Oil?
  • 10 minutes Saudis Threaten Retaliation If Sanctions are Imposed
  • 15 minutes Closing the circle around Saudi Arabia: Where did Khashoggi disappear?
  • 1 hour U.N. About Climate Change: World Must Take 'Unprecedented' Steps To Avert Worst Effects
  • 47 mins Saudis Pull Hyperloop Funding As Branson Temporarily Cuts Ties With The Kingdom
  • 4 hours WTI @ $75.75, headed for $64 - 67
  • 9 hours How High Can Oil Prices Rise? (Part 2 of my previous thread)
  • 9 hours UN Report Suggests USD $240 Per Gallon Gasoline Tax to Fight Global Warming
  • 12 hours EU to Splash Billions on Battery Factories
  • 9 mins U.S. - Saudi Arabia: President Trump Says Saudi Arabia's King Wouldn't Survive "Two Weeks" Without U.S. Backing
  • 9 hours China Thirsty for Canadian Crude
  • 11 hours Iranian Sanctions - What Are The Facts?
  • 13 hours Dow logs 830-point loss
  • 10 hours Two Koreas: U.N. Command Wrap Up First Talks On Disarming Border
  • 9 hours Shell, partners approve huge $31 billion LNG Canada project. How long till Canadian Federal government Environmentalates it into the ground?
  • 11 hours Threat: Iran warns U.S, Israel to expect a 'devastating' revenge
Alt Text

Venezuela Has Officially Launched Its Oil-Backed Cryptocurrency

Venezuela has officially launched its…

Alt Text

US Demands For More Oil Could Backfire

The State Department’s request for…

Energy Digital

Energy Digital

Energy Digital is a leading digital media source of news and content for C-level executives focused on business and all aspects of managing the environment.…

More Info

Trending Discussions

World’s Highest Oil & Gas Salaries Forces Australia’s LNG Industry Offshore

World’s Highest Oil & Gas Salaries Forces Australia’s LNG Industry Offshore

As Australia builds up its liquefied natural gas plants, energy workers are reaping the benefits with the highest salaries in the world—but not for long. As the country's resource boom inflates costs and threatens onshore developments, developers are turning to the sea for billions of dollars in savings, reports Bloomberg.

Australia's oil and gas workers currently earn an average annual salary of $163,600—35 percent higher than employees in the US (double the global average), according to Hays Plc and Oil and Gas Job Search.

Related article: How will China React to Gazprom Prospecting in Vietnamese Waters?

Shell is pursuing the first LNG facility in the world and Exxon Mobil Corp is preparing to use the world's largest ship to turn gas into liquid at an onshore field, avoiding the cost of pipelines and port facilities. Woodside Petroleum Ltd is looking into sea-based technology, dodging an onshore plant for its Browse project. Both moves is expected to save the companies nearly 20 percent what they would pay onshore.

Many developers are turning to Asian-built floating projects to keep Australia competitive with the suppliers in North America and East Africa.

“A lot of people have been saying Australian LNG is now over, it’s going to be priced out of the market by U.S. LNG exports and competition from Canada and East Africa,” Mark Greenwood, a Sydney-based analyst at Citigroup Inc., told Bloomberg. “In our view, we are going to see continued investment in Australia, just a different sort.”

Related article: Natural Gas Struggles to Rise from the Ashes of it’s Last Bubble

As the demand for LNG skyrockets, especially in nearby Asian markets, developing Australia's resources is critical in meeting growing energy needs.

“Of the 90 million tons a year of new projects that need to be approved globally in the next three years to satisfy LNG demand by the end of the decade, as much as a third of that may come from proposed floating LNG plants and expansions of onshore developments in Australia,” Neil Beveridge, an analysts at Sanford C. Bernstein & Co, told Bloomberg.

There are currently six onshore projects under construction in Australia, three already operating.

By. Carin Hall of Energy Digital




Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News