Weatherill pumped by unconventional gas

South Australia’s unconventional gas could be a game changer that pumps billions of investment dollars into the state, Premier Jay Weatherill says.

Not so many years ago, the conventional wisdom was that the Cooper Basin had peaked, and had entered a period of gradual decline, he told the APPEA oil and gas conference in Adelaide.

“We now know that, with new techniques, there is far more gas available from other levels of the basin than has yet been extracted,” he said.

The shale gas reserves alone have been estimated at 85 trillion cubic feet, he said on Monday.

“Even in its infancy, the unconventional gas sector has the potential to deliver hundreds of millions, if not billions, of investment dollars to this state.

“We all know that these new techniques have to be approached carefully, but most of us have come to the conclusion that it is inevitable that natural gas will be the most reliable fuel in our transition to an ever more renewable-energy future.

Mr Weatherill said the state was releasing what it called a draft “Roadmap for Unconventional Gas Projects in SA” to clarify the opportunities and risks for markets and people who might some day compatibly co-exist with unconventional gas projects.

It also aims to reduce critical uncertainties that may impede efficient, profitable and welcomed investment.

“The South Australian government intends to ensure that this state remains a distinctively attractive destination for investment in environmentally sustainable petroleum, geothermal, gas storage and mineral projects,” he said.

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