海角吃瓜网

Much has been written on the prospects for Australia海角吃瓜网檚 coalbed methane industry (CBM, called coal seam gas in Australia) and many billions of dollars has already been invested. But at least one , from business news site MarketWatch, argues, it may not all be plain sailing as the world海角吃瓜网檚 two largest economies 海角吃瓜网� the US and China 海角吃瓜网� start to exploit the enormous reserves of shale gas both are sitting on.

海角吃瓜网淎 few years ago we all thought the US would be a net importer of gas 海角吃瓜网� how wrong could we have been,海角吃瓜网� said Simon Powell, head of Asian oil and gas at CLSA in Hong Kong, speaking to MarketWatch. 海角吃瓜网淭he US could become a meaningful exporter in the next five years. The question is how big? North America is a meaningful threat to Australia海角吃瓜网檚 aspirations,海角吃瓜网� he said.

The other threat is China, which as both CBM and shale reserves. 海角吃瓜网淲e海角吃瓜网檝e all been shocked at how much shale the US fields have spat out [but] China might be sitting on a shale reserve that makes the US shale reserve look small,海角吃瓜网� Powell said. 海角吃瓜网淚f the Chinese find out they have a lot of shale, you could see the Chinese say [to Australia]: Thanks a lot, we found the mother of all shale reserves, we don海角吃瓜网檛 need you anymore.海角吃瓜网�

The Australian CBM industry also faces domestic challenges including a national skills shortage that is pushing up costs and delaying projects throughout the country海角吃瓜网檚 natural resource sector. There has been an increase in environmental and popular opposition to CBM drilling.

海角吃瓜网淟NG plants are very complex, high-end pieces of kit. Are there enough electricians to build all these things? Is there really enough gas [in the Queensland fields] for all the trains that are on the drawing board, and will the farmers let them dig it up?海角吃瓜网� Powell asked.

So, all is not certain. But don海角吃瓜网檛 count out Australian yet. China still has a long way to go in developing its unconventional resources, and it海角吃瓜网檚 not completely clear whether the US government will actually allow exports of LNG. The US Department of Energy is yet to make a decision on the matter, which is becoming increasingly political. Lawmakers from both the House of Representatives and Senate have raised concerns that LNG exports could raise domestic gas prices and hurt manufacturing industries that rely on natural gas.聽

Read the article online at: /business-news/28022012/australia-lng-industry-faces-competition-from-us-and-chinese-shale-gas/