AUSTRALIA has the seventh largest shale gas reserves in the world but a lack of roads and pipelines could hinder the industry's development.
An HSBC report shows that in addition to a lack of infrastructure, such as ports, roads, pipes and processing plants in some remote areas, high extraction costs would also likely slow the pace of development.
The report says US Energy Information Administration (EIA) estimates show that Australia has the seventh-highest technically recoverable shale gas reserves in the world but exploration and development remain in their infancy.
Smaller independent companies had made initial assessments of high potential shale basins in Australia and major international companies were now beginning to invest in the projects, it said.
But "while the Cooper Basin benefits from existing infrastructure, other key shale gas areas are remote and lack established infrastructure," the HSBC report said.
"In addition, extraction costs are expected to be high in Australia relative to other markets with Australian developments expected to be more capital intensive in comparison."
However, the HSBC report said, remote shale gas locations did have one major advantage.
"They are generally not close to populated areas which could limit opposition to future development of the resource," the report said.
The remote onshore Canning Basin, stretching from the WA coast between Port Hedland and Broome to the state's eastern border, has recently received attention from major oil and gas players.
The 530,000-square-kilometre area is estimated to hold about 229 trillion cubic feet of unconventional gas resources, or about one-and-a-half times the state's currently identified offshore gas resources.
Mitsubishi has committed about $60 million for exploration with Buru Energy while ConocoPhillips plans to spend more than $120 million on seismic testing in the basin's southeast corner.
In June, the WA government introduced a bill allowing Buru and Mitsubishi to continue exploration, develop a gas pipeline to the Pilbara and give first dibs for any gas discovered to the domestic market.
Meanwhile, Australian oil and gas player Santos began exploiting shale gas in the Cooper Basin in South Australia late last year, almost a decade after starting its unconventional gas program.
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