Dart to Assess NSW New Regulations for CSG Industry

Dart Energy has said that it will continue to assess the proposed changes by New South Wales government in the state's approval processes and regulatory regime for coal seam gas industry.

Whilst this review is undertaken, Dart will continue to focus on its unconventional gas projects across its international asset portfolio, the company said in a statement.

“Yesterday’s announcement by the NSW Government highlights the strength of Dart’s diverse portfolio of international projects. This portfolio approach to investment has reduced Dart’s exposure to individual country risk and accordingly its NSW assets form only one component of the company’s total portfolio,” Dart said.

Dart Energy International, a wholly owned subsidiary of Dart, is a global unconventional gas business with CBM and shale gas assets located in the UK, Europe and Asia.

“We will review the detail of the proposed regulatory changes to fully understand the implications for our NSW assets. With many of the State’s long-term gas supply contracts due to expire from next year, the NSW Government’s decision will complicate efforts to safely source local natural gas for industry and its one million domestic gas users. Clearly, increased regulation in NSW will result in the export of capital interstate and offshore to countries that work more constructively with industry,” Dart’s Chairman Nick Davies said.