Santos Limited (ASX:STO) is pushing New South Wales to develop the coal-seam gas industry.
According to The Australian, Santos has told the state government that the coal-seam gas reserves in New South Wales would be lucrative.
Queensland holds more than 90 per cent Australia’s coal-seam gas reserves, with New South Wales holding a mere 5 per cent.
The report says Santos has already invested $50 billlion into its Queensland projects and would invest several billions into New South Wales if development was ramped up.
Coal seam gas development has been controversial due to safety and environmental concerns.
Last month Santos posted a 115 per cent jump in its full year net profit, coming in at $504 million.
