Lead Industry Address – Leveraging opportunities in a growing but competitive market
Ryan LanceChairman and Chief Executive Officer, ConocoPhillips
The APPEA Journal 59(3) - https://doi.org/10.1071/AJ18295
Published: 21 June 2019
Abstract
ConocoPhillips has a history of success in Australia, investing more than $20 billion since 2004 and creating 4000 ongoing jobs. We are a foundation shareholder and operator of Australia Pacific LNG, vital to the export and domestic markets; an owner and the operator of Darwin LNG; and are approaching a final investment decision on the Barossa offshore supply development project in early 2020.
Over the past decade our industry invested $200 billion into development here, making Australia the one of the world’s largest LNG exporters. These exports serve a global energy landscape that features growing demand for secure energy, but also an increasingly competitive supply market.
In order for Australian LNG projects to attract investment capital in today’s market, they must be competitive on costs and financial returns. Industry is striving toward this with ongoing technological and efficiency improvements. But we also need a stable fiscal environment and access to natural gas resources. We therefore look to government for leadership in ensuring contract sanctity, opening land for exploration and development and allowing the free market to incentivise new investment. All these actions together would help ensure adequate supplies for Australia’s domestic natural gas market and vital export industry.
Additionally, natural gas will be a vital part of the future energy mix in a lower-carbon world. Farsighted government policy can help assure Australia’s growing role in supplying the world with this abundant and affordable source of clean energy.
To view the video, click the link on the right.
Ryan M. Lance has served as chairman and chief executive officer of ConocoPhillips, the world’s largest independent exploration and production company based on production and reserves, since 2012. He is also chairman of the Executive Committee for ConocoPhillips. Ryan is a petroleum engineer with 33 years of oil and natural gas industry experience in senior management and technical positions with ConocoPhillips, predecessor Phillips Petroleum and various divisions of ARCO. His past ConocoPhillips executive assignments included responsibility for international exploration and production, regional responsibility at various times for Asia, Africa, the Middle East and North America, and responsibility for technology, major projects, downstream strategy, integration and specialty functions. Externally, Ryan is a board member of the National Fish and Wildlife Foundation, and a trustee of both the George H. W. Bush Library Foundation and PGA Reach. He is also an advocate for charities benefiting youth through his service on the boards of Spindletop International and the Montana Tech Foundation, and on the advisory council of the University of Texas Energy Institute. He is a past chairman of the American Petroleum Institute and currently serves on its Executive Committee. Ryan is a member of the Society of Petroleum Engineers, and earned a Bachelor of Science degree in petroleum engineering from Montana Tech in Butte in 1984. |
