Sunday, January 16, 2011

Protestation on natural gas drilling by Green Party in Australia and Investments in natural gas

Australia has the world's worst per capita polluter and it has committed to reducing pollution by five percent from 2000 levels by 2020, succeeding the universal efforts to reduce the production of gases blamed for global warming.Greens party in Australia is admonishing the plans of the natural gas mining companies, for natural gas drilling. In suburban areas of St. Peters, near Sydney will embark on the drilling operations at the earliest and the government of Australia requested the people not to worry about this project and the people should encourage it since it produces power for the future. Steve Whan, the minister of Industry for the New South Wales region told that, the plenty of natural gas reserves in a particular area could deplete the carbon footprint of the particular area. Many are worried about the damages caused to the environment since Sydney depends mainly on the coal-fired electricity. Our site is the best source for global natural gas updates, natural resource locations, natural resources news international natural gas updates.

The Macquarie Bank and the Freeport LNG are planning to export 50 percent of the plant production and the remaining will be imported to ConocoPhillips and the Dow Chemical. The Freeport LNG natural gas plant was sanctioned this year is the second plan, promoted to export natural gas in the United StatesFreeport LNG, developer of the liquefied natural gas terminals conflated with Macquarie Bank, aimed to construct a natural gas power plant in Texas. The Texas power plant is installed mainly to export the natural gas produced in the United States to other countries and to achieve a high record. The spokes person of the Macquarie Bank articulated that, the power plant will be completed by 2015 and it will supply more than 1.4 billion cubic feet of natural gas each day. The maintenance of the power plant will be taken care by the Freeport LNG and the cost for development will be rendered by the Macquarie Bank.

The Petronet LNG Board will provide an extra investment in energy around Rs 450crore and the final agreement on this expansion will be done after discussing with the Board of Directors of the company. S. Sundareshan, the Petroleum and Natural Gas Secretary articulated that, the company is discussing with several providers of liquefied natural gas, across the world and the Kochi Terminal will be accredited by 2012. The Chief Executive Officer and the Managing Director of the Petronet LNG A.K. Balyan declared that, the company is coordinating for a two-day General Assembly gathering of the International Group of Liquefied Natural Gas Importers in Kochi. The PSU oil companies are increasing their production to meet the requirements of the State as there is a 10 per cent and five percent  increase in the consumption of petrol and diesel respectively.The International Group of Liquefied Natural Gas Importers is formed to encourage the energy investments, sharing of ideas and experience of various liquefied natural gas companies across the world. The Kochi Terminal is to be expanded from 2.5 million tons to 5 million tons; this was recently sanctioned by the Petronet LNG Board.

(ArticlesBase SC #3720343)

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