Answer to gas crisis clear in 3D OIL industry veteran Noel Newell believes the solution to the coming price and supply crunch in eastern state gas markets could lie beneath the blue-green waters of the Otway Basin off western Victoria. His ASX-listed company 3D Oil is "positively pumped" about the region's potential to serve as a circuit-breaker to the demand squeeze coming when the first of three gas-hungry Queensland LNG export projects costing $70 billion gets switched on next year. Mr Newell's enthusiasm follows 3D's acquisition of the Otway Basin permit (T/49P) in May. Desktop assessments have since identified at least 10 leads, with the structures ranging from medium to large by world standards, and with a combined gas-in-place potential 3D estimates is in the order of 20 trillion cubic feet.