THE Australian Bureau of Agricultural and Resource Economics (ABARE) has announced a record number of new minerals and energy projects in the period from October 2006 to present.
An ABARE minerals and energy commodity forecast revealed 51 new minerals and energy projects have been developed since April 2007, with 94 projects added since October 2006. According to the forecast, nine of the 51 projects are either committed or already under construction.
The Bureau has sighted particular interest in two Queensland Liquefied Natural Gas (LNG) projects. Santos and LNG Ltd are each proposing to each build an LNG plant based in Gladstone, Queensland.
“These projects are significant because they will both use coal seam methane as the gas feedstock,” ABARE commodity analyst Alan Copeland said.
Also new to the list are seven oil and gas developments, including the Pyrenees oil field, Van Gogh, Puffin South West and Talbot operations.