A drive to reduce emissions that is spreading faster than the coronavirus in the energy industry could see assets worth up to $17 billion put up for sale in Australia, Wood Mackenzie analysts projected this week. There are already some $11 billion in assets being sold in the country, as struggling oil and gas companies, including the supermajors, seek to offload all non-essential business. Many of these assets may not find buyers and may remain undeveloped if the energy transition takes the upper hand. This will likely put an end to Australia’s regional energy dominance ambitions. “BP, Total and Shell all hold Australian LNG assets with high carbon footprints, alongside ambitious goals to increase their global LNG portfolios,” Wood Mackenzie’s analysts said in a report on M&A trends in Australia. “What will be more important – hitting growth targets or emission goals? The two do not seem mutually compatible, […]