Australia's Unconventional Future Takes Shape
An interesting oil and gas market where junior companies have the opportunity to play an important role is developing in Australia, according to Armour Energy Ltd. Chief Executive Officer Robbert de Weijer.
Brisbane-based Armour is one of several exploration and development companies currently working to identify the potential of Australia’s frontier shale gas resources.
As it has in the United States, shale gas is tipped to emerge as a major new energy source in eastern Australia, particularly as three major liquefied natural gas (LNG) developments will be seeking supply after they come on-stream in Queensland during the next 18 months.
While it may be up to a decade before the potential of these frontiers is fully realized, de Weijer believes the impact of extensive resources in basins across northern Australia could be substantial.
He explained that the forecasted market conditions created by the major east coast developments were motivating junior explorers such as Armour to discover and develop unconventional resources.
“It is going to be an interesting market moving forward, especially as there will be huge demand for gas with the LNG plants coming on-stream,” de Weijer told Rigzone.
“To have this demand, and with gas prices expected to increase (in eastern Australia), it can only be a good thing for oil and gas companies with prospective exploration acreage upstream. This country will need more gas, it is just a matter of where can we find it?”
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