“These are large world scale projects, expect to see some consolidation,” he said.
“But at the moment, we have got five projects, potentially 28 million tonnes within five years. That’s more than existing Australian northern production.”
Mr Regan says that globally there are more reserves of coal methane than conventional natural gas reserves, and Australian reserves represent about 40 per cent of the world’s proposed new projects.
“CBM [coal-bed methane] in Australia is very, very significant,” he said.
“Australian energy development is hugely significant. Those projects there represent about 50 per cent of the total global proposed new capacity.”