Gas production costs in Queensland's Lake Eyre Basin will be 'staggering', report claims
ABCGas exploration projects in Queensland's Channel Country will be expensive to produce, generate "significant" carbon emissions and are likely to be abandoned, a report has found. Key points: Origin Energy last month announced it would take steps to abandon its 11 exploration permits in the region The Queensland Resources Council says gas plays an important role in the transition to renewable energy Graziers are concerned fracking risks water resources for the state's beef industry The report by Pegasus Economics, commissioned by environmental lobby group Lock The Gate, argued gas found in the Lake Eyre and Cooper Basins would cost energy companies millions of dollars to extract and produce. "Although significant gas resources do exist in the Lake Eyre and Cooper basins, it's just not economically viable to actually extract," said the report's author, Alistair Davey. "Large multinational oil and gas companies don't pull out of prospecting projects unless they're fairly confident the resources economically viable to extract," he said.
History of this topic
Consultation to begin on future of Queensland's fragile Lake Eyre Basin
ABCOrigin Energy backs out of investment into on-shore gas exploration in Beetaloo Basin
ABCEnergy economists are calling for change, so what can Queensland do to avoid future blackouts?
ABCAmid soaring energy costs, businesses fear for their future if something doesn't change
ABCChannel Country gas development could increase national emissions by 60 per cent, report says
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