Release Date: 21-Apr-2014
Australia is sitting on nearly 6% of the world’s shale gas reserves, i.e. 437 Trillion Cubic Feet. These are in addition to its already proven natural gas and oil reserves that make it one of the few distinguished energy rich nations. These shale gas reserves, though found a little late, have the proper Total Organic Content and the perfect environment of the depth of gas burial and requisite amount of temperature for its maturation.
Australia is looking to build its shale gas reserves rapidly to gain a better foothold in the world shale gas market and also increase its natural gas exports. Its biggest market is the ever energy hungry Asia. As Asian nations are slowly moving towards becoming gas based economies, Australian gas is finding more buyers and better markets. This is the right time for Australia to tap the market and flood it with its own gas produce. China, a key exporter of Australian LNG has found its own shale reserves, probably the world’s largest and is fast developing it. This will reduce its dependence on imports from Australia. That is why, Australia should keep feeding its gas to China till it is able to produce its own gas and for that, Australia will have to move fast to develop and produce its shale gas.
“Australia Shale Gas Industry Analysis” Report Highlights:
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