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Narrabri Shire first in NSWExpansion of the gas industry in Narrabri Shire. Eastern Star Gas (ESG) was formed in 2000 as a private company. The company was listed on the Australian Stock Exchange in February 2001 with an initial capital raising of $10m. Currently, ESG is capitalised in excess of $300m. Since the IPO in early 2001, ESG has acquired 100% interest in Petroleum Exploration Licence (PEL) 238 which is situated in Narrabri, north west New South Wales. PEL 238, is situated on one of Australia’s largest onshore natural gas reserves. The independently accredited proved and probable reserves are 17,000 petajules or 17 trillion cubic feet. Interest in this reserve is already being shown by Macquarie Generation, with a MOU in relation to the ongoing supply of gas between ESG and the Liddell Power Station in the Hunter Valley. ESG has entered into a 10 year agreement with the New South Wales government owned energy retailer, Country Energy to supply electricity. The power is produced at the gas fired Wilga Park Power Station which commenced operations in July 2004. The Wilga Park Power Station produces electricity with lower carbon dioxide emissions than a comparative and equivalent sized coal fired power station. This results in New South Wales Abatement Certificates being generated which are subsequently sold to Country Energy. Despite historically being famous in the agricultural sector, the Shire is looking to the future across a range of industries that will build on our strong economic foundation. As well as the natural gas industry already discussed, there are a number of coal mining projects that assist in creating a diverse employment and ancillary business opportunities. Investment in real estate and commercial business is growing quickly in Narrabri Shire where recently a Woolworths store expanded and Coles will reopen in 2008 with a new outlet. Recently, within the Shire an IGA Store opened for business. All parties undertook there own research and realised the potential for growth before investing in the Shire. In spite of the worst drought in one hundred years, Narrabri Shire is still growing and will continue to, aided by coal, natural gas and the proposed Inland Rail due to its central geographic location on the Newell and Kamilaroi Highways.
Investigations are currently underway into a proposed gas pipeline link between Wallumbilla (QLD) and Hexham (NSW). The project will diversify the source of supply currently operating to Sydney which is between South Australia and Victoria. The project will provide the missing link in the eastern Australian gas network securing the supply of gas to Sydney, Newcastle and regional areas. Contact details |
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© 2008 Narrabri Shire Council |
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