Australia: Gas Production to hit 100bn Cubic Metres by 2016 Says New Report
The ‘Australia Oil and Gas Report Q3 2012' states that coal bed methane (CBM) will increasingly contribute to the country's gas output, particularly in the east of the country, where CBM output will feed a number of LNG export terminals that are now under development. The report expects overall gas production to hit 100bn cubic metres (bcm) by 2016. In July 2010, the Government announced a decision to extend the coverage of petroleum resource rent tax (PRRT) to cover all onshore oil and gas production and existing offshore