(Pocket-lint) - Google is reportedly working on its own satellites that will cover the globe delivering worldwide internet access.

The project, reported by The Wall Street Journal, is estimated to cost the mighty G between $1 billion and $3 billion. That should cover the cost of building around 180 small, high-capacity satellites initially with the chance of further expansion.

Both Google and Facebook are already working to deliver internet to less economically developed regions of the world. This might seem selfless but ultimately it's a good investment. They can reach more people with adverts and make themselves more money in the long run.

Google's Project Loon uses air balloons to deliver internet to hard to reach areas, while Facebook plans to launch drones that fly for years at a time delivering internet. Google's satellites will offer another layer of connectivity for high speed internet all over the globe.

Tim Farrar, head of satellite-consulting firm TMF Associates, expects Project Loon's balloons eventually to be replaced by Titan's drones. He points out that drones and satellites complement each other. Drones offer better high-capacity service in smaller areas while satellites can deliver broader coverage in less demanding areas.

Google has plenty of regulatory, physical and logistical hoops to jump through yet but it certainly looks like the race for space controlled internet is on. 

READ: Google Project Loon wants to lease internet balloons to wireless carriers

Writing by Luke Edwards.