Here is what’s going on in the natural gas industry around the world.
France has renewed its ban on fracking.
Although the country has potentially rich reserves of shale gas, the leadership is not budging when it comes to extracting it.
French President Francois Hollande will continue the ban despite strong opposition from businesses and labor unions pushing for France’s independence on natural gas imports and nuclear power.
Hollande’s administration has rejected at least seven different applications for exploration permits.
The country has also blocked more than 100 applications for conventional onshore oil and natural gas development.
Chevron announced it has discovered more gas in Western Australia.
The company found the gas in the deepwater Greater Gorgon area where it is developing two large LNG export projects.
“The continued exploration success in the Carnarvon Basin could help underpin expansion opportunities at our LNG projects in Australia and support our drive to become a leading supplier of LNG to world markets and domestic gas to Western Australia,” Chevron Asia Pacific Exploration and Production Company President Melody Meyer said in a statement.
This is Chevron’s fifteenth discovery in Western Australia since 2009. The find is located approximately 74 miles northwest of Barrow Island, the host of the Gorgon LNG project.
Following a string of natural gas discoveries, the East African nation of Tanzania is poised to overhaul its laws and review all of its contracts with oil and gas exploration companies.
The review is planned to ensure that the 20 current contracts are in the best interest of the Tanzanian people and that its state energy firm will play an active role in oil and gas projects.
According to the U.S. Geological Survey, East Africa’s coastal waters hold up to 441 trillion cubic feet of natural gas.
Tanzania is expected to join Kenya and Mozambique as a major energy export hub to Asia.
Because of the recent finds in Tanzania, the country is considering a new law to replace existing legislation in anticipation of a natural gas boom.
Tanzania is seeking a production-sharing agreement to allow its state-owned energy firm to share in the management of exploration and production.
Epsilon Energy Ltd. has announced its agreement with a private Canadian company. The joint venture will allow Epsilon the opportunity to earn a 50 percent interest in leasehold properties in Alberta, Canada with a $3 million investment in drilling and completion costs. Following the initial investment, Epsilon will split expenditures 50/50 with its partner.
Drilling will begin this year. Epsilon will lead the multi-well oil focused program.
Epsilon Energy Ltd. is a North American onshore exploration and production company with a current focus in the Marcellus Shale in Pennsylvania, Bakken Shale in Saskatchewan and Lower Smackover in Mississippi.
Eni SpA reported a natural gas discovery in Pakistan. The find was made 269 miles north of Karachi in the Khitar Fold Belt region.
The size of the find is estimated to be about 300 billion to 400 billion cubic feet.
Eni SpA, Italy’s largest oil company, is seeking to speed up production following the find. The company produced approximately 54,800 barrels of oil equivalent per day in 2011 in Pakistan, making the Rome-based explorer the country’s largest producer.