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CEDA Unconventional Energy Options 3 September 2012

CEDA Unconventional Energy Options 3 September 2012. Challenges and Opportunities for Unconventional Gas Professor Quentin Grafton Bureau of Resources and Energy Economics. Global Gas Resources and Production. Global Gas Resources. Projected Gas Production 2035. Conventional. Russia.

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CEDA Unconventional Energy Options 3 September 2012

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  1. CEDA Unconventional Energy Options3 September 2012 Challenges and Opportunities for Unconventional Gas Professor Quentin Grafton Bureau of Resources and Energy Economics

  2. Global Gas Resources and Production

  3. Global Gas Resources

  4. Projected Gas Production 2035 Conventional Russia United States Unconventional China Iran Qatar Canada Algeria Australia Saudi Arabia Turkmenistan 0 200 400 600 800 1 000 Unconventional gas could represent 40% of total gas supplied bcm Source: IEA 2011

  5. 5 000 Mtoe 4 000 3 000 2 000 1 000 0 Oil Coal Gas Renewables Nuclear Projected Primary World Energy Demand Additional to 2035 2010 gas & renewables meet more than 60% of incremental energy demand Source: IEA 2011

  6. Australian Resources and Production

  7. Australia’s Gas Resources Source: Geoscience Australia2011

  8. Australian Gas Production

  9. LNG Exports (Volume & Value)

  10. Queensland LNG Projects

  11. Unconventional Gas production

  12. Unconventional Gas

  13. Coal Seam Gas Source: Williams and Pittock 2012

  14. Risks that Require Monitoring • Well-bores and their integrity • Water injection (hydraulic fracturing), extraction and storage • Air quality and noise levels • Traffic of vehicles

  15. Better Practices • Full community engagement over local concerns (land access protocolos, disclosure, etc.) • Effective risk management (venting of gas, water management, etc.) • International Energy Agency (IEA) estimates that adopting Best Practices would increase costs of production by only about 10%

  16. Gas as a Transitional Fuel

  17. CO2 Emissions during Electricity Generation (grams per kWh) Source: IGU 2012

  18. Reductions in CO2 Emissions • IEA estimates that with ‘Golden Rules’ in terms of unconventional gas production with adequate environmental practices in place global CO2 emissions would be 1.3% less in 2035. • Globally, substitution of coal and oil by gas would projected to reduce global CO2 emissions by 740 Mt in 2035 • In Australia, if gas substituted one-for-one for reductions in coal-fired electricity generation and based on BREE’s long-term energy projections by 2035 would have 15% less CO2 emissions in electricity generation sector.

  19. Thank you Quentin.grafton@bree.gov.au

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