Dart Welcomes NSW Industry Framework for CSG
Dart Energy has welcomed NSW Government announcement of its Strategic Regional Land Use Policy.
The Government will now make offers of renewal on a number of Petroleum Exploration Licences (PELs) in NSW, including all of Dart Energy’s licenses. The announcement will enable Dart to progress its well programme which is strongly focused on gas supply to the domestic market. Twenty two coal seam gas exploration licenses in NSW have been renewed following the release of the Strategic Regional Land Use Policy. Renewal applications had been put on hold by the government until the policy was finalised.
NSW imports 95% of the gas used by 1.5 million customers and faces the real prospect of an energy shortage and significantly higher gas prices with long term industrial and retail gas contracts expiring from 2015. The policy will allow NSW to sustainably develop its own gas resources in coexistence with other land uses and with associated benefits to the State's economy such as job creation and a lower environmental footprint, Dart said.
Meanwhile, a court has told Dart to temeproraliy stop test drilling for coal seam gas at Fullerton Cove in New South Wales, media reports said. AAP ghas reported that the court has restrained Dart from any development beyond site preparation and drilling compound construction.