May 17, 2020

Coal Seam Gas Production Balloons in Asia

energy digital
coal seam gas
Natural Gas
Asia-Pacific
Admin
2 min
CSG market trends
Unconventional gas is becoming increasingly popular across the Asia-Pacific, as demand for natural gas grows throughout the regions major industrialis...

 

Unconventional gas is becoming increasingly popular across the Asia-Pacific, as demand for natural gas grows throughout the region’s major industrialised nations, states a new report from business intelligence experts GlobalData.

The new report looks at Coal Bed Methane (CBM), otherwise known as Coal Seam Gas (CSG), which has similar properties to natural gas, is extracted from coal seams and represents an important unconventional source of gas.

Asia-Pacific is a major natural gas market, with the potential to become the largest gas market in the world in the future. The existence of substantial coal reserves, particularly in Australia, China and India, provides opportunities for companies to undertake CBM exploration and development activities. The region holds 265,843 Million Tons (mmt) of proven (1P) coal reserves as of 2011, leading the region to rank second after North America in global reserves.

Some of the most highly industrialized countries in the world are located in this region, such as Japan, South Korea and China, along with some of the most highly populated countries with high consumption rates, such as India and China. This incredible growth of natural gas consumption across Asia has made the development of unconventional gas sources vital to the region’s economy. Australia has already had major success in CBM developments, but China is now also aggressively developing its CBM resources, while other Asian countries such as India, Indonesia and Vietnam begin to seek out similar opportunities.

The urgent need to develop CBM as a secure gas source is being supported by favorable fiscal policies and government regulations in a number of Asian countries. Queensland in Australia has introduced a gas scheme which mandates the increased usage of natural gas for power generation, and China has provided CBM operators exemption from Value Added Tax (VAT), and exemption from import duty for machinery used for CBM extraction. India has also announced a tax holiday for CBM operations, albeit only for the blocks offered in the last four CBM exploration blocks award rounds.

In order to establish a superior export base for natural gas, Australia is undertaking the construction of several Liquefied Natural Gas (LNG) liquefaction plants to convert CBM to LNG, which are expected to be operational within the next few years. Geographical proximity to energy-hungry South Asia will provide a good market for Australian LNG exports.

CBM production in Asia is expected to reach about 98 billion cubic meters (bcm) by 2020, with Australia contributing over 60% of the total, with China and India representing the next major contributors.

Source: GlobalData

 

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Apr 16, 2021

Hydrostor receives $4m funding for A-CAES facility in Canada

energystorage
Canada
Netzero
Dominic Ellis
2 min
The funding will be used to complete essential engineering and planning, and enable Hydrostor to take critical steps toward construction
The funding will be used to complete essential engineering and planning, and enable Hydrostor to take critical steps toward construction...

Hydrostor has received $4m funding to develop a 300-500MW Advanced Compressed Air Energy Storage (A-CAES) facility in Canada.

The funding will be used to complete essential engineering and planning, and enable Hydrostor to plan construction. 

The project will be modeled on Hydrostor’s commercially operating Goderich storage facility, providing up to 12 hours of energy storage.

The project has support from Natural Resources Canada’s Energy Innovation Program and Sustainable Development Technology Canada.

Hydrostor’s A-CAES system supports Canada’s green economic transition by designing, building, and operating emissions-free energy storage facilities, and employing people, suppliers, and technologies from the oil and gas sector.

The Honorable Seamus O’Regan, Jr. Minister of Natural Resources, said: “Investing in clean technology will lower emissions and increase our competitiveness. This is how we get to net zero by 2050.”

A-CAES has the potential to lower greenhouse gas emissions by enabling the transition to a cleaner and more flexible electricity grid. Specifically, the low-impact and cost-effective technology will reduce the use of fossil fuels and will provide reliable and bankable energy storage solutions for utilities and regulators, while integrating renewable energy for sustainable growth. 

Curtis VanWalleghem, Hydrostor’s Chief Executive Officer, said: “We are grateful for the federal government’s support of our long duration energy storage solution that is critical to enabling the clean energy transition. This made-in-Canada solution, with the support of NRCan and Sustainable Development Technology Canada, is ready to be widely deployed within Canada and globally to lower electricity rates and decarbonize the electricity sector."

The Rosamond A-CAES 500MW Project is under advanced development and targeting a 2024 launch. It is designed to turn California’s growing solar and wind resources into on-demand peak capacity while allowing for closure of fossil fuel generating stations.

Hydrostor closed US$37 million (C$49 million) in growth financing in September 2019. 

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