Australia Has Huge Deposits of Shale gas
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Australia has huge deposits of shale gas Australia can be called as the natural resource capital of the World simply because it is rich in every natural resource important to man like iron, lead, coal, gold etc. In fact recently Queensland and New South Wales have been living off the boom of Coal Seam Gas which has changed their lives with Billions of Dollars being injected in their economy every year by both Government and Private sector and this has been a trend since past decade. Statistics show that in those parts 1 in every 4 jobs is related to Coal Seam Gas industry. New studies have shown that Australia is sitting on a huge deposit of Shale Gas which means second boom in natural resource extraction is exploration is waiting to happen in this country. But the question is what Shale Gas is? In layman language Shale Gas is a form of fossil fuel available in the gaseous form which can be extract from the Earth and combusted to generate energy. This gas as the name suggests is extracted by breaking the shale rock deep below the sea level. The extraction process for shale gas is similar to Coal Seam Gas which means it will need a lot of fresh ground water. Right now just studies are going on if it is commercially viable to extract this gas and studies have shown that there is 400 trillion cubic feet of gas available which makes Australia the fifth largest country to have Shale gas reserve. Billions of Dollars will be invested to makes extract Shale Gas which is a great news for Australian economy but experts say that extraction cost in Australia will higher as compared to China or USA.
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The Australian Council of Learned Academies study found that while Australia had huge deposits of gas.More than 1000tn cubic feet of untapped gas, Australia that rigorous background work would need to be done on shale gas utilization.
Transcript of Australia Has Huge Deposits of Shale gas
Australia has huge deposits of shale gas
Australia can be called as the natural resource capital of the World simply because it is rich in every natural resource important to man like iron, lead, coal, gold etc. In fact recently Queensland and New South Wales have been living off the boom of Coal Seam Gas which has changed their lives with Billions of Dollars being injected in their economy every year by both Government and Private sector and this has been a trend since past decade. Statistics show that in those parts 1 in every 4 jobs is related to Coal Seam Gas industry.
New studies have shown that Australia is sitting on a huge deposit of Shale Gas which means second boom in natural resource extraction is exploration is waiting to happen in this country.
But the question is what Shale Gas is? In layman language Shale Gas is a form of fossil fuel available in the gaseous form which can be extract from the Earth and combusted to generate energy. This gas as the name suggests is extracted by breaking the shale rock deep below the sea level. The extraction process for shale gas is similar to Coal Seam Gas which means it will need a lot of fresh ground water.
Right now just studies are going on if it is commercially viable to extract this gas and studies have shown that there is 400 trillion cubic feet of gas available which makes Australia the fifth largest country to have Shale gas reserve.
Billions of Dollars will be invested to makes extract Shale Gas which is a great news for Australian economy but experts say that extraction cost in Australia will higher as compared to China or USA.
