"Australia has identified gas reserves that could keep up the rate of current production for nearly two centuries, Resources Minister Martin Ferguson says."
"Mr Ferguson said the Australian gas resources assessment for 2012 had identified gas resources, excluding shale gas of about 390 trillion cubic feet, which equated to 184 years of gas production at the current rate."
Martin Ferguson goes on to say that INCLUDING Shale Gas, it potentially DOUBLES Australia's natural gas reserves. So that's approximately 368 years. But obviously Shale Gas may require Hydraulic Fracturing to extract. A controversial method to say the least.
No shortage of Natural Gas to power our Fuel Cells! Also Europe looking to incorporate Bio-gas into their mains gas supply, which would obviously extend Global natural gas resources further.
CFU Price at posting:
9.4¢ Sentiment: None Disclosure: Held
