The commercial development of shale gas reserves will result in exponential growth of LNG export from Australia according to recently published research report “Australia Shale Gas Market Analysis” published by Kuick Research.
Australia is one of the few countries with natural gas supply exceeding its demand. It already has vast reserves of natural gas, coal seam gas and has found yet another source, shale gas. EIA estimates Australian shale gas reserves to be close to 400 Trillion Cubic Feet. With the shale gas find, it is all set to overtake Qatar to become the largest LNG exporter in future.
Australia will tap this new found gas source to expand its market presence in the Asia Pacific and look for newer markets to exploit. The growing demand of natural gas in the developing countries has increased their dependency on the Australian supplies, which is a major boost for the country, hence, it will be developing its shale gas reserves as fast as possible to meet the surging requirements.
As per report findings, Australian shale gas market is in its infancy and it will be some time before it can commence commercial production. The technology required for shale gas exploration and production lacks in Australia and it is counting on the North American companies to help it repeat the US shale gas success. The companies have just started to get the permits for assessment and appraisal of the reserves, the results of which are being watched by the international companies waiting to make their first move in the Australian shale gas market.
The report published by Kuick Research, ‘Australia Shale Gas Market Analysis’, gives a bird’s eye view of the Australian shale gas market in its nascence. The future of the Australian shale gas, according to the report, is bright and large with large investments planned for the coming years. Australia is set to take the top position in LNG exports with the start of production of shale gas. The report also gives an insight on the issues that Australia might face during the development of its reserves.
‘Australia Shale Gas Market Analysis’ research report is a factual text on the present and future of the nascent Australian shale gas market with an overview of the technology used and the domestic and international companies giving all their resources to make it a success.
LNG World News Staff, July 08, 2012