Mustang, part of international energy services company John Wood Group PLC, announced June 18 that its Australian affiliate, Mustang Engineering Pty Limited, has signed a Memorandum of Understanding with Fyfe Pty Ltd to jointly support coal seam gas/coal seam methane (CSG/CSM) projects.
Australia holds the fifth largest coal reserves in the world, and the CSG market has seen significant growth over the last several years. Production increased an estimated 40 percent from 2007 to 2008 and reserves have doubled to 11.8 trillion cubic feet. The long-term need for gas by Asian economies is expected to be strong and many believe that over the next several years the annual amount spent to bring this resource to these key growing economies could exceed several billion US dollars a year.
For more information: www.mustangeng.com.