ADVENT Energy says the economic crisis could make it easier to hire a drilling rig, which had been difficult during the resources boom.
The company is currently planning to develop an area off the Newcastle coast said to have substantial gas reserves.
Advent executive director David Breeze says several attempts to drill over the past six years had stalled because of a shortage of equipment.
The gas field is known as the offshore Sydney basin and stretches for 200 kilometres, covering 8100 square kilometres from northern Sydney to Newcastle. Advent Energy estimates the amount of gas in the area has greatly increased.
Breeze claims supplying power stations with gas would give them the chance to make electricity with gas rather than coal, significantly cutting greenhouse gas emissions.
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