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Significant investment is still needed to begin extracting the gas and get it to market.
It hopes to start drilling in the north early next year and is expected to begin extracting gas in about 18 months.
The discovery should have no immediate effect on world oil or gasoline prices because it could take three years or more to begin extracting oil.
While all three mining companies are planning launches next year, none expect to begin extracting anything of value from space until well into the next decade.
The project, which is due to begin extracting coal in 2017, is set to become one of the world's largest coal developments.
The suspended rescue effort also delayed plans by marine salvage workers to begin extracting the ship's half-million gallons of fuel and other potential pollutants.
Similar(43)
Created in part because Dow required a bleach plant to use the wastes from the bromine extraction processes performed by Midland Chemical, the new company also began extracting other chemicals such as chlorides, magnesium, and calcium from Michigan's plentiful brine deposits.
Molycorp began extracting light rare earth metals from the open-pit Mountain Pass Mine in the 1950s.
Japan began extracting deep sea minerals late last year at a test site near the island of Okinawa.
In the 1920s, energy companies began extracting the basin's bountiful petroleum deposits during a boom that lasted decades.
Rather than relying on the natural menstrual cycle, doctors began extracting as much genetic material as they could from their patients.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com