Beetaloo Shale Basin Set to Start Pumping Gas Next Month

Australia's Beetaloo Shale Basin is on track to start pumping gas next month, according to Reuters. Initial production will be around 37 million cubic meters.

The Beetaloo basin, located in the Northern Territory, holds an estimated 500 trillion cubic feet of gas and has been compared to the giant Marcellus shale play in the United States.

The government of the Northern Territory hopes that Beetaloo will turn it into another LNG production hub. However, development of the reserves has been slow due to a focus on conventional deposits for growth in Australia.

Tamboran Resources and Beetaloo Energy are producing the first gas from Beetaloo, which will go to the city of Darwin to secure its gas needs while the companies monitor depletion rates.