The future of the burgeoning coal seam gas industry in Central Queensland looks promising with explorer Blue Energy announcing an upgrade to their coal seam gas asset.
Blue Energy’s Bowen Basin tenements are surrounded by Arrow Energy’s existing Moranbah Gas Project and its proposed new gas development and export pipeline project, the Bowen Gas Project. The Bowen Gas project is presently undergoing a Front End Engineering and Design process to supply gas to the Gladstone LNG hub.
Blue Energy upgraded it’s coal seam gas asset in the Bowen Basin after an independent audit increased the 3C resource category by 21% or 657 PJ (recoverable gas) to a total of 3,462PJ (3C).
In addition, the independent NSAI gas resource upgrade has also increased the sub-categories of 1C and 2C Contingent Resources for the permit by 30% and 27% respectively.
Blue Energy’s current net gas resource across the portfolio now stands at nearly 4,400 PJ of Contingent Resource, 55 PJ of 2P Reserves and 200 PJ of 3P Reserves, all of which are currently uncontracted.
Demand for gas from Gladstone’s LNG hub on Curtis Island is expected to boom in the next 12 months as three LNG projects come online and exports begin.
The first cargo of LNG from BG Group’s QCLNG facility on Curtis Island was loaded on a ship for export earlier this month. QCLNG is the world’s first LNG project to be supplied by coal seam gas.