STO Well positioned, page-546

1. More comments from the Federal govt that:-

. Australia will needmoregas exploration & production- both for our own needs, up to2050; & also, for our international trading partners' needs, to assist the energy transition.

.Carbon Capture & Storageis essential to abate CO2 levels.

(Thus the Federal govt. is recognising the crucial, long term importance of gas & oil- which clearly benefits STO. And it is implying that CCS will be commercially viable & efficient; & that CCS will, technically, be able to store CO2 permanently).

Nearly all renewable energy zealots are adamant that these 3 policies are wrong, will fail (re CCS) & are, generally, damaging to their preferred priorities, & renewables' narratives.
These positions will obviously also benefit STO- more gas production, with added ESG benefits (re CCS).

msn/M.o.t.l.e.y Fool 9.5.24 B. Struben said

"Australia will also need gas into the future, to firm renewables and ensure the reliability of the grid," [Fed. Resources Minister Madeleine] King said. She added that, "Gas is needed out to 2050 and beyond."...

To help Australia reach its emissions reduction goals, she said, "I will release more greenhouse gas acreage for carbon capture, use and storage"...
"Australia will need continued investment to develop gas supplies to get us through the energy transition with thriving industries. That will mean a continued commitment to exploration," she said...

Santos CEO Kevin Gallagherrespondedto the new policy, saying (courtesy ofThe Australian), "I'm pleased that the recognition of the role of gas is beginning to be better understood."...

And Santos has long been a supporter of increasing carbon capture and storage to help tackle emissions.

"The future of our industry is abated (ie capturing & storing the CO2- my words) oil and gas, and the only way you can really abate it effectively and at scale, is through carbon capture and storage," Gallagher said".

https://www.msn.com/en-au/lifestyle/misc/woodside-share-price-smashes-benchmark-as-government-demands-more-gas/ar-BB1m4yyI?ocid=msedgdhp&pc=LCTS&cvid=83e0afcab2214283969ac0f8b7e44bf9&ei=2

We will need affordable gas to support energy reliability for households and businesses as we move to a more renewable grid. We need gas to support Australian manufacturing and Australian industry, and tens of thousands of Australian jobs in the manufacturing sector.

2.@J L
The Fed. govt., as per my 2 posts & links above, disagrees with you- it states gas & oil will be crucial to at least 2050; & it also supports CCS.