prepare for gas bills to explode in nsw

Independent consultant Wood Mackenzie provides the NSW
government with some incentive to get moving to secure
it's energy future.

Extracts from: Barclay Crawford The Sunday Telegraph April
01, 2012

Prepare for gas bills to explode

"An independent report to the state government has warned
that, unless controversial coal seam gas deposits in
Camden, Gunnedah and the Clarence-Moreton basins were
developed, there would not be enough supply to meet demand
by the end of 2014.

Energy Minister Chris Hartcher said the state's 1 million
gas consumers could see bills triple if more reserves of
the gas were not exploited.

A responsible government must take the necessary action to
maintain and increase our state's energy security, which
includes the responsible development of a domestic gas
industry, he said."

For whole story see above link.

AND

Get fracking or risk shortages, NSW warned

Not that ROG need to frac their current project but this
story originating from the AFR lays down some solid
foundations why the sector must be given the green light.

Extracts from: ANGELA MACDONALD-SMITH AND LOUISE
DODSON, AFR 30 Mar, 2012

"NSW faces a potential crisis in gas supply within three
years unless the government approves a number of coal seam
gas projects despite community concerns, two energy
consultancies have warned.

Wood Mackenzie calculates that gas production in the
eastern states will surge eight-fold by the end of the
decade to reach 5.7 billion cubic feet per day. But about
90 per cent of that is earmarked for the liquefied
natural gas plants being developed at Gladstone.

Increased supply for the domestic market depends on supply
from aging conventional fields and as yet uncommitted
CSG projects and exploration.

Wood Mackenzie's head of Australasia upstream research,
Craig McMahon, forecast that the domestic market would be
under-supplied from 2016 but said the shortfall could be
avoided if projects were developed without delays."

See link above for complete story.

The BOOM in the NSW energy industry IS going to come from
gas. They have no choice in order to secure the states
energy security. Why, because there is no other short
term solution that will provide base load energy with
reduced carbon emissions.

Sitting on proven reserves will put ROG in a sound
position. With the rising gas price and a desperate NSW
government, who knows what the future may hold.....

Gaspew ;)