Rob Willes needs to get his hands on this report and ensure that the South African Government have a copy on their desk. Should bode well for Falcon Energy, listed on the TSX with exposure to the Beetaloo Basin as well as the Karoo.
Northern Territory fracking recommendations sobering for gas industry
Northern Territory gas explorers are holding onto hopes that vast quantities of onshore gas may be unlocked after a government-ordered scientific inquiry found that the risks of fracking can be reduced to "acceptable" levels.
After more than 500 submissions and more than 100 public hearings, the panel proposed 120 recommendations designed to mitigate risks from the controversial hydraulic fracturing process to land, water, and to protect Aboriginal heritage and culture.
"The overall conclusion of the report is that risk is inherent in all development and that an onshore shale gas industry is no exception," Justice Pepper said,
"However, if the recommendations made in this draft report are adopted and implemented in full, those risks may be mitigated or reduced – and in many cases eliminated altogether – to acceptable levels having regard to the totality of the evidence."
Justice Pepper added that the decision whether to lift the moratorium is "a matter for government".
The recommendations, included in a draft report ahead of a final version in March, include requirements for regional environmental and baseline assessments before any production licences are granted, work that some say could take years to complete. They will be subject to a final round of public hearings in February.
The NT government said it will be guided by scientific evidence on whether to allow fracking.
Huge public concern about the impact of fracking has plagued the NT gas industry for several years and has divided communities. Drilling was brought to a halt in September 2016 after the then-new Chief Minister Michael Gunner imposed a moratorium to allow for more scientific studies.
The NT is estimated to hold huge resources of onshore gas that Santos chief executive Kevin Gallagher said could be "transformational" for Australia. The industry says it is prepared to invest billions of dollars to develop the gas, providing thousands of jobs in country areas and helping solve the east coast gas shortage.
Earlier this year explorers had been hopeful of a partial lifting of the ban in late 2017 but the inquiry has lasted longer than anticipated.
Mr Gallagher signalled he is still hopeful of a positive decision in March that could allow the industry to move forward.
"Santos is hoping that, early in 2018, the NT government is able to accept that good regulation and modern drilling and production technology means the industry can proceed safely and without harm to the environment," Mr Gallagher said.
Origin Energy, which holds a vast gas resource in the Beetaloo Basin near Daly Waters, said it will take time to consider the recommendations but also voiced optimism about resuming work.
"As the report acknowledges, Origin firmly believes natural gas can be safely and responsibly developed in the Northern Territory and we look forward to resuming our exploration and appraisal activities in the highly prospective Beetaloo Basin," a spokeswoman said.
But anti-gas group Lock the Gate Alliance said the inquiry only confirmed that fracking comes with "a myriad of risks".
"Even with 120 recommendations to attempt to avoid the worst of the fracking pollution risks, the panel finds that there is significant potential for accidental releases, leaks and spills of hydraulic fracturing chemicals and fluids, flowback and produced water," the group's Naomi Hogan said.
Some tourist operators and traditional owners have allied with Lock The Gate to voice their concern about the potential impact of fracking.
In the Beetaloo Basin, a traditional custodian for land Raymond Dixon called on the NT Chief Minister MIchael Gunner to protect the region from gas development.
"We are concerned that flooded gasfields can spread poisons over our pastoral lands, important cultural areas and destroy the drinking water of thousands of local people," Mr Dixon said.
The Australian Petroleum Production & Exploration Association's NT director Matthew Doman said the recommendations needed to be considered in detail and called for any regulatory reforms to be "evidence-based, practical and cost-effective".
"In the meantime, it is crucial the report be finalised as quickly as possible so that the territory government can make decisions about the industry's future," Mr Doman said.
http://www.copyright link/business/...or-gas-industry-20171212-h03ky1#ixzz51Bz6JQvJ
- Forums
- ASX - By Stock
- CEL
- Ann: Final Strategic Enviromental Assess. Report Recommendation
Ann: Final Strategic Enviromental Assess. Report Recommendation, page-33
-
- There are more pages in this discussion • 11 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add CEL (ASX) to my watchlist
(20min delay)
|
|||||
Last
5.6¢ |
Change
0.004(7.69%) |
Mkt cap ! $71.59M |
Open | High | Low | Value | Volume |
5.4¢ | 5.7¢ | 5.4¢ | $60.93K | 1.117M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 225257 | 5.4¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
5.6¢ | 149396 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 229800 | 0.045 |
1 | 302682 | 0.044 |
2 | 61000 | 0.043 |
3 | 19000 | 0.042 |
2 | 94390 | 0.041 |
Price($) | Vol. | No. |
---|---|---|
0.049 | 299986 | 1 |
0.050 | 22636 | 1 |
0.056 | 250000 | 1 |
0.057 | 220000 | 2 |
0.058 | 247000 | 2 |
Last trade - 13.25pm 08/11/2024 (20 minute delay) ? |
CEL (ASX) Chart |