Australia is at the “foothills” of developing shale gas with hundreds of trillion cubic feet of resources that may be recovered, explorer Origin Energy Ltd. (ORG) said.
“This isn’t short-term -- we’re at the foothills of exploration,” Paul Zealand, chief executive officer of Origin’s upstream business, said in an interview today in Sydney. “I don’t think we’ll see commercial production in five years.”
Origin, building a $20 billion LNG project in Australia’s Queensland state with ConocoPhillips (COP), is “always looking for potential opportunities,” Zealand said, declining to be more specific. “We’re looking in our own backyard.”
Bloomberg Business Week
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