AUSTRALIA'S drive to overtake Qatar as the world's biggest exporter of liquefied natural gas (LNG) is being underpinned by a resource of around 390 trillion cubic feet of natural gas, which could double in size if exploration for shale gas is successful, Minister for Energy and Resources Martin Ferguson said today.
More than $US175 billion is being invested in new LNG projects in Australia to capitalise on fast-growing demand for cleaner-burning fuels in Asian economies such as China as they look for alternatives to burning dirty coal for power.
A study by government body Geoscience Australia ranks natural gas as Australia's third-largest energy resource behind coal and uranium, and finds that there is a big enough resource Down Under to maintain current gas production rates for 184 years.
The report also finds Australia is likely to have significant shale gas resources, mainly located in the Australian Outback.
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The Australian
This is a good opportunity for Australia to be a market leader in natural gas production and also some sort of freedom from unwanted emission and save valuable fuel.
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