Concurrent 16. Oral Presentation for: PESA Australia Business Environment Review 2022
Erin Wild A *A KPMG Australia, Tower Two – 727 Collins Street, Melbourne, Vic. 3008, Australia.
The APPEA Journal 63 - https://doi.org/10.1071/AJ22357
Published: 2 June 2023
Abstract
Presented on Wednesday 17 May: Session 16
The energy industry has experienced continued uncertainty in the last 12 months driven by the ongoing impact of the war in Ukraine, China’s continued COVID crisis and the energy transformation. While the impacts of these events have varied across the world regional responses have focussed on energy security, affordability, and decarbonisation. While this has resulted in a greater focus on policy, investment decision making and operational discipline, it has also resulted in discussions at COP27 and DAVOS on energy poverty and the need to ensure equitable access to affordable energy. One important ramification of this uncertainty was the record global capital investment in energy transition activities particularly in renewable energy, electrified transport, and energy storage. From an Australian perspective, against the backdrop of a revised national emissions target and an east coast energy crisis, industry participants attempted to progress capital projects to support domestic energy demand–supply requirements. However, these ambitions were challenged by energy policies, economics, and social activism influences. Consequently, important projects designed to address domestic gas supply constraints were either suspended or experienced postponement of final investment decisions. Furthermore, through the vehicle of mergers and acquisitions, new participants entered the Australian market as established upstream operators actively sort to increase sustainable energy investments through ‘new energy’ business models in the form of portfolio consolidation, divestment, and defensibility as part of the energy transition pursuit and carbon abatement. All of which fosters long-term value creation through the ESG growth space as renewable technologies such as Carbon Capture Utilisation and Storage, experienced significant investment within the local industry. Finally, the unavoidable maturation of oil and gas assets across the nation has also accelerated activities across the Australian market in preparation for the imminent decommissioning wave, which is anticipated to cost billions of dollars over the next decade.
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Keywords: Australia, biomethane, decarbonisation, decommissioning, energy crisis, energy transition, gas markets, hydrogen, LNG, macroeconomics, mergers and acquisitions, new energy, policy, renewables.
Erin is a Director in the Engineering, Assets & Project Delivery team based in Melbourne, within KPMG’s national Infrastructure, Assets and Places division. With extensive experience across engineering and operations functions, Erin specialises in advising asset intensive organisations to get the most from their assets and achieve their organisation goals as they transition to Net Zero. She focusses on the energy and natural resources sector and has drive for advocating the value of life cycle asset management. She has experience in advising executive teams in building capability across people, process, change management and innovation. She uses her combination of strategic and technical capability to improve competitive positioning, seek operational and cost efficiencies, ready an organisation for the transition and make strategic decarbonisation ambitions a reality. She thrives on working collaboratively with an organisation to shape strategies that ensure affordable and secure energy today while driving towards a Net Zero future. She has 18 years' professional executive experience in the oil and gas, and power and utilities industries, bringing clarity to complex technical and business issues through a strong analytical approach and an ability to think differently about industry challenges. Working with all levels of organisations in Australia but also across the United States, West Africa and Malaysia. She holds Engineering (Chemical) and Mathematical Science qualifications. |
