Australia's Reserves-1: Discoveries, pending developments belie 2004 slide in Australia oil, gas reserves

Australia can now claim to be shedding its reputation for stranded gas fields with the advent of significant new and proposed liquified natural gas (LNG) projects.Recently petroleum companies in Australia have moved to establish substantial new LNG capacity at the Northwest Shelf Project (North Rankin and associated fields) and Darwin LNG (Bayu/Undan field) on the back of political stability and an enviable record for delivery of over 1,600 LNG cargoes from the Northwest Shelf Project.As part of the LNG development, it is considered credible that three of the other known supergiant gas fields that occur off Northwest Australia could be producing by 2015. This coincides with development of...

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