Arrow boosts gas production, but gas crisis may still hit
Source: Financial Review
Arrow Energy will double the capacity of one of its gas developments in south-west Queensland as part of a push to open up the majority of its gas reserves in the Surat Basin, but critics believe it won't be enough to avert the looming gas crisis that is due to hit the eastern states by the end of next year.
With a senior Glencore executive claiming Australia's economy will suffer significant economic damage unless there is a return to affordable base load power in the next 12 months, there has been a growing push for NSW, Victoria and the Northern Territory to lift on-shore gas development restrictions.
Arrow Energy chief executive Qian Mingyang said the company's plan to expand its Tipton gas project, located about 30 kilometres west of Dalby in Queensland's Surat Basin, would double its production capacity to more than 80 terajoules a day.
"This project continues the development of the Arrow resources which will see more gas in the market," Mr Qian said.
The company is also working with other industry proponents to bring the bulk of its reserves in the south-west Queensland gas fields to market.
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