Bloomberg reported that obstacles such as a lack of drilling equipment and increased labor and infrastructure costs could mean that Australian shale explorers will not reach large-scale oil and gas production for another ten years.
The Energy Information Administration (EIA) forecasts that increasing consumption in 2012, led by strong growth in the electric power sector, should contribute to higher prices and to an economic incentive for producers to resume drilling.
Reuters reported that Chevron (NYSE:CVX) is putting significant investment into two Australian natural gas projects.
Shell may spend $50 billion in Australia over the next decade as Europe’s largest oil company continues a shift to gas.
A 50 billion Australian dollar $41 billion deal for China to purchase Australian natural gas shows current diplomatic tensions between the two countries will not trump their commercial interests. For full story, click here
Chevron Corporation declared the award of a major front-end engineering and design contract for the first phase of the Wheatstone natural gas development in northwest Australia. For full story, click here
Ausam Energy Corporation declared that it is a natural resources company engaged in the development and exploration of oil and natural gas principally in Australia. For full story, click here
Chevron Corp.’s liquefied natural gas business will be driven by planned projects in Australia and Africa even as the international LNG industry faces a surplus of supplies. For full story, click here
Australia has more than $200 billion worth of energy projects on the drawing board, enough to drive the nation’s economic recovery. For full story, click here
Petronet LNG Ltd, India’s leading liquefied natural gas importer, has tied up 1.5 million tonnes of fuel imports from the Gorgon project in Australia. For full story, click here
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