Proudly supported by major sponsors CNC Project Management and McConnell Dowell, nearly 200 guests were present at the Hilton on the Park and all enjoyed the great atmosphere at the event.
This year’s presentation saw Galilee Energy Executive Director Paul Bilston outline an unconventional approach to the future of gas in Eastern Australia.
Providing an overview of unconventional gas as well as the eastern Australian market, Mr Bilston highlighted the production capacity and current development of a number of basins around Australia including the Canning, Beetaloo and Cooper basins.
Mr Bilston highlighted the fantastic opportunities for gas in eastern Australia which include the significant amount of resources in place, the relatively low royalty environment and high gas prices.
However, he did go on to say there are a number of challenges facing the industry.
Mr Bilston believes the first challenge facing potential development are the costs involved, with current costs being more than twice those in the United States (US) for similar activities, something he attributed to the labour costs.
He also pointed out: mobilisation costs to remote areas remain very high; regulatory frameworks often impose significant additional costs and time; commercial productivity hasn’t yet been demonstrated (apart from CSG) and the social licence to operate is lacking in some areas.
The difference in infrastructure between the US and Australia was also highlighted by Mr Bilston, with the US pipeline infrastructure far more developed when compared to Australia’s.
Although the presentation highlighted how much work is needed to properly develop gas in eastern Australia, it pointed out that the potential for expansion is becoming an increasingly viable option.