It seems they are counting on diverting a large proportion of the Queensland coal seam gas that is presently being exported to Asia as LNG into the domestic market . The Japanese were given reassurance by the Labor Government not long ago that Australia would maintain supply . Without new supply I cannot see how they can keep that promise .
Lots of coal plants to be shut down just as the offshore gas fields go into terminal decline too . Seems that a sense of urgency might gather strength in a year or so as the reality of the pain of moving to zero CO2 by 2050 begins to bite .
The Federal Government funding the legal challenges by anti fossil fuel activists to offshore exploration seems unbelievably not in the national interest to me . Even with no unexpected delays any gas discoveries in our east coast tenements will not come on line before the gas shortage inevitably kicks in .
We will keep flying under the radar as we are a low liquidity speculative minnow that is a while away from drilling yet . However I am quite happy to just hold and wait .
