Santos chairman, Ken Borda, and chief executive, David Knox, have deended the company’s plans for large-scale development of coalbed methane (CBM) reserves in New South Wales (NSW), Australia.
At an annual meeting of shareholders in Adelaide, Borda told shareholders the development of CBM resources “must be progressed as a priority” if it is to help support a competitive manufacturing sector.
Responding to questions from shareholders, Knox rejected any notion of having a domestic gas reservation policy in Australia to help local manufacturers and companies, saying it will be of no use because gas will simply stay in the ground because it won’t be economic to extract. “Gas in the ground is not gas in the pipes” he said in response to a question about rising domestic gas prices.
Knox rejected any domestic gas reservation policy, saying it was “no use to manufacturers; it’s no use to mums and dads.”
Edited from various sources by Sam Dodson
Read the article online at: https://www.worldcoal.com/cbm/16052014/santos_urges_cbm_development_cbm36/