Skip to main content

Australia's Natural Gas Resources




Though Australia has prodigious natural gas resources, the country's geology, remoteness and economy have put it in a difficult position in competing financially with other growing natural gas producers. However, timing has been on Canberra's side. The technological revolutions that led other producers such as the United States to increase natural gas production occurred after Australia had begun developing its own expensive resources, so Canberra had a few years' head start in getting large quantities of natural gas to the market. As a result, Australia's liquefied natural gas (LNG) exports will rival the size of Qatar's, allowing it to become the largest exporter to the Asian market by 2020. Yet Australia's continued growth in natural gas exports could cease after the first wave of LNG projects come online, because capital that could be spent on increasing Australia's export capacity now has other, more profitable destinations that did not exist when Australia's natural gas export development began.

Australia has three primary sources of natural gas: conventional deposits, coal bed methane and shale gas. Combined, the country has an estimated 23 trillion cubic meters of technically recoverable reserves, half of which are from shale gas deposits, one-fourth of which are from coal bed methane deposits and one-fourth of which are from conventional deposits. Currently, only coal bed methane and conventional deposits are commercially producing. Once conventional offshore gas resources off the coast of northwestern Australia and coal bed methane extraction technology became economical in the east, it became apparent that Australia was going to emerge as one of the world's largest LNG exporters in a short time. Right now, Australia has three liquefaction plants in operation and seven under construction that will be completed by 2017, increasing Australia's export capacity from about 30 billion cubic meters to nearly 120 billion cubic meters. Other projects and expansions are being proposed.

Comments

Post a Comment

Popular posts from this blog

Why States Still Use Barrel Bombs

Smoke ascends after a Syrian military helicopter allegedly dropped a barrel bomb over the city of Daraya on Jan. 31.(FADI DIRANI/AFP/Getty Images) Summary Barrel bombs are not especially effective weapons. They are often poorly constructed; they fail to detonate more often than other devices constructed for a similar purpose; and their lack of precision means they can have a disproportionate effect on civilian populations. However, combatants continue to use barrel bombs in conflicts, including in recent and ongoing conflicts in Africa and the Middle East, and they are ideally suited to the requirements of resource-poor states. Analysis Barrel bombs are improvised devices that contain explosive filling and shrapnel packed into a container, often in a cylindrical shape such as a barrel. The devices continue to be dropped on towns all over Syria . Indeed, there have been several documented cases of their use in Iraq over the past months, and residents of the city of Mosul, which was re...
Post a Comment
Read more

Russia Looks East for New Oil Markets

Click to Enlarge In the final years of the Soviet Union, Soviet leader Mikhail Gorbachev began orienting his foreign policy toward Asia in response to a rising Japan. Putin has also piloted a much-touted pivot to Asia, coinciding with renewed U.S. interest in the area. A good expression of intent was Russia's hosting of the Asia-Pacific Economic Cooperation summit in 2012 in Vladivostok, near Russia's borders with China and North Korea. Although its efforts in Asia have been limited by more direct interests in Russia's periphery and in Europe, Moscow recently has been able to look more to the east. Part of this renewed interest involves finding new export markets for Russian hydrocarbons. Russia's economy relies on energy exports, particularly crude oil and natural gas exported via pipeline to the West. However, Western Europe is diversifying its energy sources as new supplies come online out of a desire to reduce its dependence on Russian energy supplies . This has ...
Post a Comment
Read more

LONDON POLICE INDIRECTLY ENCOURAGE CRIMINALS TO ATTACK RUSSIAN DIPLOMATIC PROPERTY

ILLUSTRATIVE IMAGE A few days ago an unknown perpetrator trespassed on the territory of the Russian Trade Delegation in London, causing damage to the property and the vehicles belonging to the trade delegation , Russian Foreign Ministry Spokeswoman Maria Zakharova said during the September 12 press briefing. The diplomat revealed the response by the London police was discouraging. Police told that the case does not have any prospects and is likely to be closed. This was made despite the fact that the British law enforcement was provided with video surveillance tapes and detailed information shedding light on the incident. By this byehavior, British law inforcements indirectly encourage criminals to continue attacks on Russian diplomatic property in the UK. Zakharova’s statement on “Trespassing on the Russian Trade Mission premises in London” ( source ): During our briefings, we have repeatedly discussed compliance with the Vienna Convention on Diplomatic Relations, sp...
1 comment
Read more