The nearly depleted Silver Springs-Renlim Gas Field has the capacity to store up to 100 petajoules of gas. The company has said that the UGS project will allow users to manage gas supply to customers during peak demand periods or during supply interruptions.
Mosaic has been undertaking an updated reservoir simulation study, a preliminary study on operational aspects of reservoir and field facilities, and a review of commercial parameters of various storage options. The company has applied for a petroleum survey licence for a pipeline to lead from Wallumbilla to its Silver Springs-Renlim Gas Field.
Discussions with potential customers is continuing.