potential, potential.

Beach, Itochu plan shale gas project
From Matt Chambers : The Australian July 07, 2010 12:00AM

"http://www.theaustralian.com.au/business/beach-itochu-plan-shale-gas-project/story-e6frg8zx-1225888698750"


BEACH Energy is hatching plans to export as liquefied natural gas some of its shale gas in the Cooper Basin in South Australia.
The Adelaide oil and gas producer yesterday signed a non-binding memorandum of understanding with Japanese trader Itochu to study the potential to develop and supply shale gas to a potential LNG project.

It is understood one area the joint venture will target is the Gladstone market, where a host of majors are planning four LNG plants to export Queensland's coal-seam gas reserves. But the Cooper Basin is linked to all of the eastern states through pipelines, so there are other opportunities.

Beach managing director Reg Nelson said the joint venture was looking at mid-sized plants that could produce 1-1.5 million tonnes of LNG a year.

Shale gas was previously hard to release from the shale in which it sits, because the gas is unable to flow through shale to well bores.

But recent technological advances have changed that, in the process turning a gas shortage in the US into a surplus.

Beach believes its Nappamerri Trough shale ground, which straddles the Queensland and SA borders, could hold about 200 trillion cubic feet of gas -- or double the combined CSG reserves of Queensland and NSW.


hmmm.... interesting?