Exxon Invests $200 Million in Australian Gas Project
Exxon Mobil's Australian unit is investing nearly $200 million in the Kipper 1B gas project, alongside its partners Mitsui and Woodside Energy, to expand capacity from the existing field. The project aims to deliver crucial gas supplies to the market ahead of winter 2026, supporting Australia's energy security needs. This investment is part of Esso Australia Resources' efforts to continue producing gas in the Gippsland Basin through the 2030s.
- The Kipper 1B project highlights the critical role that domestic gas supply plays in maintaining energy security, particularly during times of peak demand.
- How will the integration of new domestic gas supplies into the Australian market impact the country's ability to mitigate future gas price volatility?