#Deloitte presents opportunities for #Australian #Shale industry in Asia

Written by on January 2, 2012 in Exploration, Gas with 0 Comments

473886_48679095International investments in the Australian Shale industry are expected to rise as Beach Energy's shale drilling in Cooper Basin provided promising results. Although the Shale industry in Australia is in early stages, according to the US Energy Information Agency, Australia is estimated to have 396 trillion cubic feet of recoverable shale gas basins, which is much higher than its conventional gas or coal seam gas reserves.

Shell recently drilled for Shale in China and the results were positive but as Stephen Reid, the Australian Oil and Gas leader for Deloitte says, "China has its own substantial gas reserves that remain largely unexploited due to competing land use issues and technological constraints."

"That leaves Australian producers with a window of opportunity in which to develop their unconventional gas reserves and continue to cement a dominant position in the Asian natural gas market."

According to Reuters, China has ambitious plans for its Shale industry and plans to pump 80 bcm of shale in 2020 which will be a quarter of their total gas consumption.

China recently announced that it would liberalise well-head prices for Shale gas, to promote exploration and production.

This means that Australia's major opportunities in Asia will be in the next few years, before China establishes itself as a major Shale producer.

 

The Australia Shale industry will be gathering at Shale World Australia in Brisbane from 31st July till 2nd of August. If you are a solution provider to the shale industry, download a partnership prospectus here or contact camilla.kamsvaag@terrapinn.com

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