Galilee shows potential

The Galilee Basin in Queensland could become a new source of gas for the east coast after coal seam and conventional gas deposits were located in the region.

The Australian reported exploration in the region, which is yet to have any commercial gas reserves proved up, has seen pipeline operators begin preliminary talks to build connectors to the east coast grid.

Companies currently exploring the region include Galilee Energy, Vintage Energy and Comet Ridge, which recently reported that they believed the expanse showed significant potential.

The news comes after Venice Energy predicted new gas shortages on the east coast could emerge as early as the middle of 2019, when they forecast the Otway Basin reserves would rapidly decline.

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