Thursday, November 28, 2013

Buru Energy lodges Environment Plan for 2014 Tight Gas Program


Media Release
26 November 2013
Buru Energy lodges Environment Plan for 2014 Tight Gas Program
Buru Energy has today lodged its Environment Plan (EP) with Department of Mines and Petroleum (DMP), seeking approval for its proposed pilot exploration program for tight gas in the Canning Basin, in Western Australia’s north-west.
The comprehensive document details Buru Energy’s plans to undertake testing for tight gas flows in the Canning Basin’s Laurel Formation, at depths of about 2,000m-4,000m. The Canning Basin landscape is a vast arid area in the Kimberley, dominated by large grazing properties and desert land.
Subject to approvals, testing in the basin will be carried out using hydraulic fracturing, or fraccing to stimulate the flow of gas from the rock formation. Hydraulic fracturing will be undertaken in four existing wells – two at Yulleroo, about 80km east of Broome, and two at Valhalla/Asgard, about 320km east of Broome.
Buru Energy Managing Director Dr Keiran Wulff said the exploration program for 2014 would help determine the commercial potential of tight gas in the Laurel Formation which may contain the largest onshore natural gas resource in Australia. 
Posted by Red Hand at 7:39 AM

2 comments:

  1. AnonymousNovember 28, 2013 at 6:12 PM

    AFR

    US closing in fast on LNG market share: RBC

    Approvals for US liquefied natural gas exports are being granted more quickly than anticipated, and North American LNG could capture a fifth of the global market by the end of the decade, says RBC Capital Markets’ Toronto-based LNG expert Greg Pardy.


    ..............



    http://www.macrobusiness.com.au/2013/11/us-lng-on-a-charge/

    US LNG on a Charge


    Approvals for US liquefied natural gas exports are being granted more quickly than anticipated, reinforcing expectations of a “new dawn” in North American LNG, which could capture a fifth of the global market by the end of the decade, according to RBC Capital Markets’ Toronto-based LNG export Greg Pardy.

    Speaking in Sydney Mr Pardy said while progress towards LNG exports in Canada was still at a relatively early stage, ventures were moving ahead rapidly on the US Gulf coast, with exports from the first US export terminal, Cheniere Energy’s Sabine Pass venture in Louisiana, set to reach Asian markets in 2016.

    …“The US is exceeding our expectations dramatically in terms of the approval of LNG exports to non- Free Trade Agreement countries,” Mr Pardy told the Australian Financial Review.

    …RBC is forecasting North American LNG exports will reach about 69 million tonnes a year (9.2 bcf/d), representing about 20 per cent of global supply. Of that total, the US is likely to take more than the 57 million tonnes a year share anticipated just a few months ago, Mr Pardy said.

    …RBC is forecasting Chinese LNG demand will more than triple in the 2012-20 period, to reach 7 bcf/d by the end of the decade. But it is bearish on demand in the world’s largest market Japan, estimating that demand there will slide to 9.7 bcf/d by 2020 from the current peak of 11.7 bcf/d as nuclear power capacity resumes operation, up to an expected 40 per cent of capacity.

    Yep, yep and yep. The next cab off the rank is Cameron LNG and then a string of other brownfields projects. Hard to know where the US approvals will stop but they will probably pause around 70mtpa. The problem is they can resume any time they like to take market share from their bloated Australian cousins.

    Cost-out deflation ahead for Australian LNG. That or longer term limited output.


    ................



    Report: Japan and Indian Groups May Split 10% in Yamal LNG Plant

    MOSCOW, Nov 28 (Reuters) - Two groups of Japanese and Indian companies may take a combined stake of almost 10 percent in Russia's Yamal liquified natural gas (LNG) project, which would benefit from broader access to Asian markets from the sale, a newspaper reported.

    Russia's top non-state gas producer Novatek controls 60 percent of the Yamal project, which plans to produce 16.5 million tonnes of LNG by 2018, and has said it wants to sell almost 10 percent to retain a controlling stake.

    .

    Russia plans to double its share of the global LNG market to 10 percent by 2020, as it seeks to diversify its energy exports to Asian countries away from Europe where demand for Russian gas is sluggish. Vedomosti said a Japanese delegation is expected to visit Moscow between Dec. 25 and 27 to sign a deal on the Yamal stake.

    ReplyDelete
  2. AnonymousNovember 29, 2013 at 6:43 AM

    The key to all this for the US has been their luck at having built dozens of import terminals prior to the shale boom - all of them have been scrapped or turned into export terminals.

    "The next cab off the rank is Cameron LNG and then a string of other BROWNFIELDS projects. "

    The big crunch will be in the battle between the US and Russia over supplies of LNG into Asia.

    "Russia plans to double its share of the global LNG market to 10 PER CENT by 2020, as it seeks to diversify its energy exports to Asian countries ..."

    "North American LNG exports will reach about 69 million tonnes a year (9.2 bcf/d), representing about 20 PER CENT of global supply. "


    On top of all this we have huge projects planned for East Africa and Iran is now back amongst it with major pipeline projects planned and massive amounts of conventional and fracked gas available for LNG.

    PNG / Burma / Eastern Med. / Canada / Alaska / South America......................they're all piling on.


    Where does this leave the Canning Basin?

    US gas well = $3 - 4 million.

    South American well = $5 - 6 million.

    Canning Basin well = $25 - $30 million.

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