Business

Santos says manufacturers should get on board

MANUFACTURING companies could help ease the looming shortage of domestic gas by embracing early stage investment in gas projects, according to oil and gas major Santos.

Speaking at a gathering of plastic and chemical manufacturers, Santos' eastern Australia vice president Peter Cleary said more gas would be available now if the manufacturing industry had invested more in the sector over the past decade, Brisbane Times reports.

Mr Cleary applauded recent examples where manufacturers had invested in gas explorers' attempts to discover new supply, such as Orica's deal with Strike Energy, Alcoa's partnership with Empire and Buru, and Dow Chemical's arrangement with Lakes Oil in Victoria.

Domestic gas prices are expected to rise over the next five to 10 years because the looming increase in LNG exports will force Australian consumers to pay international standard prices.

Manufacturers, who consume large amounts of gas for energy and feedstock in some cases, are concerned that higher gas prices will further endanger their ability to operate profitably in Australia.

Santos is building the GLNG project on Curtis Island, Gladstone.

Read more at Brisbane Times

Topics:  gas, glng, manufacturing, resources, santos




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