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“The SA shale industry is still in the early stages of development but many people think the state is very well positioned to capitalise upon its shale gas resources on a large scale.”
Mr Byers said the scale of the resource remained largely unknown, though a report for the US Energy Department last year estimated there was 396 trillion cubic feet of recoverable gas in the Cooper Basin – enough gas to power Adelaide for 6600 years.
APPEA will release the preliminary findings of a Deloitte Access Economics report on the economic impact of the Australian oil and gas industry, which now has $170 billion worth of oil and gas projects currently under construction.
Mr Byers said Australia was on track to unseat Qatar as the world’s leading supplier of liquefied natural gas by the end of the decade.