Oil spills, leaks and contaminants can wreak havoc on marine life, and abandoned and decaying platforms and pipelines can cause large-scale damage through chemical and heavy-metal pollutants.

With LNG markets declining and ageing offshore oil and gas infrastructure representing an environmental safety risk, titleholders are now having to decommission offshore infrastructure.

This process represents an estimated $60 billion liability for investors over the next 30–50 years.

In December 2024, the Australian government released the 'Offshore Resources Decommissioning Roadmap', helping titleholders fulfil their regulatory obligations under laws like the Offshore Petroleum and Greenhouse Gas Storage Act 2006.

Here to discuss is Joshua Runciman, lead analyst of Australian gas at the Institute for Energy Economics and Financial Analysis (IEEFA).

The host of The Greener Way is Rose Mary Petrass, senior journalist at FS Sustainability.