Increased gas demand spurs competition

Natural gas has played a crucial role in the rapid expansion of Australia's economy in the past 20 years. But in recent years, there have been concerns that the gasfields in the Cooper Basin, in central Australia, and in Bass Strait are in decline, and that other sources must be found. The comp...

Full description

Saved in:
Bibliographic Details
Published in:Petroleum Economist 2002-04, Vol.69 (4), p.19-20
Main Author: MCLLWRAITH, John
Format: Magazinearticle
Language:English
Subjects:
Alliances
Analysis
Applied sciences
Business conditions
Competition
Consortia
Consumption
Economic data
Energy
Energy economics
Exact sciences and technology
Fossil fuels and derived products
Gas
Gas industry
General, economic and professional studies
Liquefied natural gas
Natural gas
Natural gas reserves
Offshore
Oil
Oil and gas industry
Oil reserves
Petroleum industry
Self sufficiency
Supply & demand
Taxation
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:Natural gas has played a crucial role in the rapid expansion of Australia's economy in the past 20 years. But in recent years, there have been concerns that the gasfields in the Cooper Basin, in central Australia, and in Bass Strait are in decline, and that other sources must be found. The companies operating in these two provinces argue that there is still significant potential to replenish reserves of around 350bn cubic metres (cm), but even if this happens, they will face competition from more remote sources. In the oil sector, declining exploration activity, particularly offshore, is likely to lead to a sharp fall in production in the next decade. But concerns remain for the longer term. In particular, the oil industry is worried that the government's taxation and regulatory regimes discourage exploration.
ISSN:0306-395X