Capital
|
BP’s Lightsource is in exclusive discussions with Macquarie-backed developer Aula Energy to offload its portfolio, months after an $800 million-plus deal to sell local renewable energy assets to a Chinese company came unstuck with the Foreign Investment Review Board. (AFR)
Origin Energy (ASX: ORG) is likely to keep coal-fired Eraring running until at least 2030 to safeguard energy security and reliability, according to UBS, given the slow pace of the clean energy transition. (AFR)
Documents obtained by the Environment Centre NT under Freedom of Information showed the Darwin LNG export hub has been leaking methane since it opened in 2006. NT regulators found out about the leak in 2020, just hours after signing off on a proposal to extend its operations until 2050. Regulators have said the leak is stable and poses no immediate threat to the public or environment. (ABC) (Bloomberg)
"Santos's failure to address the ongoing methane leaks at its Darwin facility may reflect that Santos has not set a specific methane abatement target, which is a departure from industry best practice. Investors in oil, gas and LNG companies face increasing risks from company methane emissions, including due to the use of inaccurate emission measurement techniques, the impact of future planned expansions and a lack of effective methane emission abatement activity.”
Josh Runciman
Lead Analyst, Australian Gas, IEEFA
Meanwhile Abu Dhabi National Oil Company and its private equity partner are close to completing due diligence on their $30bn bid for Santos (ASX: STO) as attention shifts to whether it can satisfy the Foreign Investment Review Board. (The Australian)
 Projects
|
The Queensland Government has dumped plans for a 1200MW wind farm. The Forest Wind project was slated to build up to 226 wind turbines, as tall as 265 metres, across Queensland state-owned pine plantations in Gympie, Maryborough and the Fraser Coast. (ABC)
The Greens will use the Senate this week to order the production of relevant documents from regulators overseen by federal Ministers, given Santos and ConocoPhillips (NYSE: COP) are alleged to have intentionally concealed the leak from the public to ensure it wouldn’t derail plans for an extension of Darwin LNG or approval for its Barossa project.
“Ministers Bowen, Ayres and King must also explain if they were aware of what their regulators knew. Their climate credentials are on the line.”
Larissa Waters
Australian Greens Leader Senator
Policy
|
An “independent, expert and long-term” analysis of the performance of the east coast gas market is in the works. The Australian Energy Regulator (AER) said that the inaugural Wholesale gas market performance report, currently being prepared for publication in May 2026, will be its first broad-ranging assessment of the overall competitiveness and efficiency of the east coast wholesale gas markets, with a focus on markets facilitated by the Australian Energy Market Operator (AEMO). The Australian Competition and Consumer Commission (ACCC) has been running an inquiry into gas markets since 2017, but after 25 interim reports perhaps it’s time to try a new perspective.
Separately, Resource Minister Madeleine King’s Gas Market review — a combined review of the Australian Domestic Gas Security Mechanism (ADGSM), Gas Market Code, and Heads of Agreement with east coast LNG exporters — is due by December 2025.
Elsewhere, NZ ministers received the final report of their electricity market performance review but aren’t ready to say anything about it.
Regulation
|
AER released a batch of approved Legacy Meter Replacement Plans developed by distribution network companies to show how legacy meters will be replaced with smart meters by November 2030. Electricity retailers are responsible for arranging for the replacements, following the schedules in these plans.
Technology
|
Australian manufacturer Century Yuasa Batteries (CYB), a founding member of the Australian Energy Storage Council, announced partnership with Recycle Mate on lead-acid battery recycling that adds CYB’s national network of recycling centres into the Recycle Mate app and website.
Climate
|
The independent Climate Council said the Darwin “methane cover-up” showed gas companies could not be trusted to regulate their own climate pollution.
“Australia is already the world’s 12th largest methane polluter, and our coal and gas companies may be under-reporting their methane pollution by up to 60 percent. That means the scale of this problem is likely far worse than official figures show. The Australian Government has signed up to the Global Methane Pledge to slash global methane emissions by 30% by 2030. But a promise is not a plan. We need to adopt a measurable and accountable mechanism to drive genuine methane emissions reductions to 2035, and fulfill our commitments under the Global Methane Pledge.”
Professor Lesley Hughes
Climate Councillor
Greenpeace Australia Pacific said ConocoPhillips, which is currently test drilling for gas in the Otway Basin, can’t be trusted to operate in Victoria if it was party to the alleged cover-up.
People
|
The Group Head of Strategy & Transformation at ACCIONA's Australian Infrastructure business, civil engineer Gavin Reymond, was appointed Managing Director of ACCIONA Energiìa in Australia.
Research
|
International think tank Climate Analytics released its recommended climate targets for Australia, urging a 2035 emissions reduction target around 81% below 2005 levels.
"The world will be watching Australia's target as the government bids to co-host next year's climate talks with Pacific Island countries whose very existence is threatened by warming exceeding 1.5˚C.”
Bill Hare
Climate Analytics CEO and Senior Scientist
Random
|
More than 7,000 2025 variants of the Tesla Model Y have been recalled in Australia over a software fault that could injure drivers. (Guardian)