Breaking Down SEAAOC 2023
Lidiar Group’s Arthur Dimitropoulos and Lachlan Winterbotham are attending this year’s Southeast Asia Australia Offshore & Onshore Conference (SEAAOC). We caught up with Arthur to discuss his thoughts on the conference and its key themes.
“One thing that stood out was the heightened interest in the Northern Territory’s potential to become a $40 billion economy by 2030. The buzz around this goal was palpable, and it’s clear that the energy industry is ready to play a pivotal role in achieving it,” said Arthur.
The Focus on Carbon Capture and Storage (CCS)
“There was a clear and prominent focus on Carbon Capture and Storage (CCS), emphasising the need to incorporate decarbonisation technology into gas production and distribution. With projects like Gorgon and Santos’ DLNG/Banyu Adan field developments right here in the NT, alongside INPEX’s own CCS initiatives, the industry is actively countering anti-gas sentiments with tangible progress.
It’s crucial that we bridge the perception gap about the role of resources in society. Natural gas is a cornerstone of our civilisation, and CCS is a vital tool in its sustainable future.”
Global Investment and Regulatory Considerations
“Discussions emphasised the importance of maintaining Australia’s reputation as a safe investment destination. We need to ensure that regulations, while essential, don’t divert potential investments to other markets. The slow uptake of CCS, compared to countries like the USA and Canada, underscores the urgency to align our efforts with global goals.”
The Future of LNG
“By 2040 (or even 2050, as some speakers suggested), global LNG demand is set to double from current levels. This presents both opportunities and challenges that we must navigate strategically and requires a whole of industry focus to ensure supply meets demand, covering every aspect of the sector from regulation to infrastructure development to social and environmental management.”
Streamlining Regulatory Processes
“Acknowledgment was made that we need to streamline regulatory approval processes for major infrastructure and resources projects. This is essential for fostering innovation and growth in our industry.”
Project Focus
Two of the Territory’s key projects were placed under the spotlight to emphasise the capability, capacity and maturity of the sector.
Middle Arm Sustainable Development Precinct
“The Middle Arm Sustainable Development Precinct took the spotlight, featuring renewable initiatives like solar and hydrogen hubs. The prospect of high-tech manufacturing industries locating here is exciting. We’re also considering common user infrastructure to support this thriving precinct.”
Beetaloo Basin Success
“Lastly, exploration and drilling in the Beetaloo Basin showcased remarkable production milestones with insights shared from the USA’s shale gas industry that have been invaluable in ensuring our success.”
“SEAAOC 2023 has been a testament to our industry’s resilience and adaptability, and Lachlan and I were impressed by every aspect of the event. As an industry, it is now up to us to keep working together to shape a sustainable and prosperous future for the energy sector and the Northern Territory,” said Arthur.
