Gulf Oil and Gas accountACCOUNT

A$22 million Heat Recovery Project will Free up Sales Gas, Reduce Moomba Energy Consumption

Source: 12/18/2017, Location: Not categorized

Share |
A$22 million heat recovery project will free up sales gas, reduce Moomba energy consumption and lower carbon emissions. Following a $6.8 million grant from South Australia’s PACE Gas program, Santos and our joint venture partners, Beach Energy and Lattice Energy, will invest in a $22.3 million heat-energy recovery system that will free up sales gas for the domestic market by reducing our own energy consumption at Moomba.

The project will increase production revenue for Santos and our partners, and has the added advantage of lowering carbon emissions from our gas processing activities.

Heat-energy recovery allows waste heat from the exhaust of an existing turbine to be recycled, enabling more power and steam to be generated. Using waste heat to generate power and steam means less gas is required for the same output from the turbine.

“Producing more from less – that is what Santos is about,” said Santos Managing Director and CEO Kevin Gallagher.

“We are always looking for ways to reduce energy consumption and our carbon footprint, particularly in the Cooper Basin where our own energy use is equivalent to just under 5 per cent of east coast domestic gas demand,” Mr Gallagher said.

“If we can make even half that gas available to the market by capturing energy efficiency opportunities, it would be an excellent outcome for both Australian domestic customers and our LNG exports.”

Mr Gallagher said he was delighted the South Australian Government has supported the project and thanked Treasurer Koutsantonis for his ongoing support of a world class resources sector in South Australia.

Investment News in Australia >>

Cuba >>  10/8/2018 - Melbana Energy has signed a non-binding Letter of Intent (LOI) with Anhui Guangda Mining Investment ('AGMI') with respect to its Block 9 Production Sh...
Norway >>  10/8/2018 - Equinor has reduced the estimated investments for operated projects in the development phase on the Norwegian continental shelf by some NOK 30 billion...

Canada >>  10/2/2018 - Shell Canada Energy, an affiliate of Royal Dutch Shell plc, has taken a final investment decision (FID) on LNG Canada, a major liquified natural gas (...
Pakistan >>  9/29/2018 - Qatar Petroleum President and CEO Saad Sherida Al-Kaabi held talks in Islamabad with H.E. Mr. Imran Khan, the Prime Minister of the Islamic Republic o...

United States >>  9/25/2018 - Bayport Polymers, LLC a 50/50 joint venture owned by Total S.A. (“Total”) and Novealis Holdings LLC, itself a joint venture of Borealis AG (“Borealis”...
Iran >>  4/20/2015 - Two British companies are gathering information about how to invest in Iran, managing-director of Iran Industries Investment Company said. ...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Australia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 |

More News


Oil & Gas Companies in Australia >>

Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.