AGL Energy Limited (ASX:AGK) has welcomed a report on coal seam gas from the New South Wales Chief Scientist and Engineer.
The energy company has highlighted the results findings claiming coal seam gas extraction and related technologies are mature and Australia is well equipped to manage their application.
AGL says the report shows that with appropriate safeguards and controls natural gas from coal seams can be safely extracted to supply homes and businesses across New South Wales.
The company also notes the technical challenges and risks associated with the coal seam gas industry but believes these risks can be managed through best practice.
AGL says it supports all of the Chief Scientist’s 16 recommendations, including the need for comprehensive monitoring of coal seam gas operations.
The report came in the same week AGL launched a new campaign aiming to build understanding of the importance of coal seam gas in New South Wales.
AGL Energy reported a net profit of $570 million in the 2014 financial year.
