WESTERN AUSTRALIA — (December 24, 2020)
Valhalla is massive mega-project that could revolutionise Western Australia’s position in the transitioning energy market.
Not only will it be the first carbon emission-free gas project in the world, it will secure Western Australia’s gas supply. The project operator Black Mountain Energy aims to provide carbon-free LNG to Australia’s biggest customers like Japan, China, and Korea.
Valhalla is located in the Canning Basin, once relatively unexplored, but now, with the potential to be a gamechanger for industry. The project is estimated to hold several trillion cubic feet of gas, which developed could be WA’s biggest resources development rivalling that of the iron ore sector.
Once developed, it would bring in more than A$2.9 billion in state royalties, GST, and payroll taxes, and create more than 2,000 jobs.
“It will transform Western Australia and Northern Australian communities,” Black Mountain Energy chief operating officer Ashley Zumwalt-Forbes said.
“If you purely look at the numbers, our project makes tangible sense and has regional benefits. It’s also 100% carbon-free.”
Black Mountain Energy is no stranger to the oil and gas industry despite its large diversified portfolio in mining. Black Mountain Energy has fracced and completed more than 2,700 oil and gas wells throughout the USA.
It has the environmental experience, and the management know-how, to develop the emerging Canning Basin permit exploration permit EP837.
“The canning is the eighth biggest basin in the world, so really there is tremendous potential to unlock gas and energy potential for decades to come,” Black Mountain Energy chief executive Rhett Bennett told Energy News.
“It will benefit the manufacturing industry, the mining industry, and broader energy market with its size.
Black Mountain owns 100% of EP371 in the core of the Canning. It has both traditional owner groups’ endorsement and support for the potential gas project.
Black Mountain Media