woodside stays away from csg why ? have a read

OUTGOING Woodside Petroleum boss Don Voelte yesterday weighed into the controversy over coal-seam gas exploration, declaring he was "not going to lose any sleep" over his decision to avoid the fledgling sector.
"I think one of the greatest things that I will have achieved is not taking my company into coal-seam methane," he told The Australian Deutsche Bank Business Leaders Forum.

Mr Voelte said his earlier involvement in projects by Vastar Resources in the San Juan basin - located in southwestern Colorado and northwestern New Mexico - had taught him much, such as "exactly what happens with the water".

"I'll just say, I rest easy at night knowing that I didn't take my company there," Mr Voelte said.

"Let's test it in four or five years ... I'll just say that I am very, very happy that Woodside is placed where it's placed, period. I'm not going to lose any sleep over it."

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Arrow, a joint venture between Shell and Petro China, faces legal action over the Queensland government's decision to approve coal-seam gas activity in the Darling Downs region.

The action is backed by a fighting fund supported by the National Farmers Federation and is viewed as a test case of the ability of mining and gas companies to expand their activities in the region.

The impacts on water and land are among the issues that the Arrow legal action is expected to test.

The move has come as the NSW government has put a 60-day freeze on new coal-seam gas exploration as it seeks to resolve disputes between agricultural and mining users of land, but the Greens want this extended to cover existing activity also.

Shell Australia country chairwoman and upstream executive vice-president Ann Pickard yesterday downplayed concerns about pressure for environmental scrutiny of the projects. "Am I surprised by it? No. I think we're seeing greater consultation on environmental issues of concern all around the world," Ms Pickard told the forum.

"Particularly when you start moving into something new, like coal-seam gas.

"I'm not surprised. These are big projects. They have a bigger environmental footprint than an offshore project.

"I think having a good consultation is what should be expected."

Queensland Premier Anna Bligh has also come to the defence of the coal-seam methane industry, arguing this week that it had an important role as a transitional fuel in coming decades.

According to the figures from the government's resource industry adviser, ABARE, investments in coal-seam gas have led $43.9 billion worth of resources projects over the past six months alone.

There are some $101bn worth of gas and oil projects in production currently, according to ABARE.