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Project Insights

Local demand and prices drive Aussie exploration

After a prolonged downturn in exploration in Australia, companies are responding to a forecast rise in local demand and prices by investing in new developments After a prolonged downturn in exploration in Australia, companies are responding to a forecast rise in local demand and prices by investing in new developments.
By Sally Bogle 20 June 2019 Asia Pacific / Exploration & Production 0 34323
The Marlin B platform in the Bass Strait. (ExxonMobil)

The key issue: With nearly 5 trillion cubic metres of remaining recoverable conventional gas and some 2 tcm of CBM, Australia has considerable long-term LNG supply potential – providing it can keep costs down and meet optimal timing for developments.

Interfax analysis: Australia is releasing new acreage for exploration and taking more steps to encourage investment in new gas field developments to ensure long-term supplies both for the domestic market and for export as LNG. Visible signs of this include a distinct stepping-up of exploration and...