Phenomenal growth in Australia's coalbed methane(CBM)industry ratcheted up another level last week with the launch of Santos' ambitious plan to develop the world's first LNG facility to be fed entirely by CBM gas.The 3 mil-lion-4 million ton per year(400 million-535 million cubic foot per day)export facility - to be built near the Queensland port of Gladstone on Australia's east coast - would be wholly owned by Santos and cost an estimated US4.4 billion-6.1 billion,of which roughly half would go for upstream development.A final investment decision is expected by 2009 with a target of first cargoes in 2014.
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