Thursday, 5 November 2009

China geothermal development close

Adelaide Advertiser
Saturday 31/10/2009 Page: 84

Adelaide-based energy company Petratherm says it is close to finalising an agreement to develop two geothermal projects in south-east China. A Chinese delegation visiting Adelaide yesterday met with Minister for Mineral Resources Development Paul Holloway and representatives from Primary Industry and Resources SA to discuss the projects. The delegation includes the Vice Director of the China Institute of Geo-Environment Monitoring, the Chairman of the Geothermal China Energy Society and the Director of the Fujian Southern Institute of Geothermal and Mineral Spring.

Petratherm exploration manager Peter Reid said the company had been working with several Chinese companies and the Chinese government to determine the feasibility of several Chinese projects. He said while the resource was yet to be tapped for energy production, shallow heat deposits were currently used for heating. "China is the fastest growing energy market in the world and there is a real requirement to develop new energy technologies," Mr Reid said. "China has a very large geothermal resource." The delegation's "fact-finding mission" will visit Petratherm's Paralana geothermal energy site and GeoDynamics' geothermal project in the Cooper Basin. Mr Reid said he was hopeful of securing project licences for two Chinese projects within the next six months.