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Australia’s energy industry is at the beginning of an era of momentous change, with multibillion-dollar investments aimed at supporting domestic consumers and pioneering the development of coal seam gas into liquefied natural gas (LNG).
Much of the attention is focused on Queensland as it emerges as one of the most abundant regions for coal seam gas in the Pacific basin. Exploration and development is concentrated in the Surat and Bowen basins, where QGC’s reserves and resources have reached more than 13 trillion cubic feet.
Our heartland is Queensland, although we have acreage in other parts of Australia. In Queensland the business holds interests in more than 40,000 square kilometres of acreage. To date, only a fraction of the total ground under lease has been explored or developed.
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BG Group entered Australia early in 2008 through an alliance with QGC. In October 2008, BG Group and QGC agreed a friendly takeover, resulting in the creation of a strong, new and vertically-integrated BG Group business in Australia.
The team at QGC was among the first to recognise the enormous potential of coal seam gas in Australia. We recognised the role that coal seam gas can play in supplying the domestic market and the growing global LNG market in response to demand for cleaner energy sources. Today, QGC is developing the Queensland Curtis LNG Project (QCLNG), using coal seam gas to feed an LNG terminal at Curtis Island, near the city of Gladstone on Australia’s east coast.
QGC has dedicated a proportion of its coal seam gas reserves to help meet Australia’s energy needs. QGC’s reserves are projected to supply about 20% of Queensland’s domestic gas market in 2009.
Strong and beneficial relationships have also been established by QGC in the communities in which it operates. QGC is investing in applications for large volumes of coal seam water, which has the potential to help communities, towns and farms in the region.
QGC will develop its assets to supply additional coal seam gas to the domestic market and QCLNG.
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