18 Dec 2023

Media Release: Miles should continue gas net zero pathway to secure economic benefits

Australia’s oil and gas industry has urged the incoming Miles Government to continue to recognise the important role of natural gas under net zero so Queenslanders can continue to enjoy its many benefits.

Australian Energy Producers Queensland Director Keld Knudsen today welcomed the rise of Steven Miles as Premier and thanked Annastacia Palaszczuk for a constructive working relationship that had strengthened the state’s position as the east coast’s energy leader.

Mr Knudsen reaffirmed the industry’s commitment to providing reliable and affordable energy to homes and businesses in Queensland and the southern states that rely on the Sunshine State for their energy security.

He said Queensland gas would play an increasing role in electricity generation by partnering with renewables, powering industry and manufacturing, decarbonising importing nations and unlocking carbon capture technologies and low-carbon hydrogen.

“Congratulations to Steven Miles on his rise to lead an energy powerhouse state that is doing the hard work and keeping the lights on for millions up and down Australia’s east coast,” Mr Knudsen said.

“Queensland’s collaboration with the gas industry has created over 30,000 jobs and is delivering $1.5 billion a year in royalties – the equivalent of funding for a new hospital annually.

“The return on the gas industry’s investment of tens of billions of dollars over the past 15 years is clear.

“Government receipts from gas royalties will total $7.66 billion over five years.

“Our goal is to keep this going under net zero as our industry helps the state enable carbon capture utilisation and storage (CCUS) and kickstart low-carbon hydrogen production.”

Mr Knudsen welcomed the cabinet returns of Scott Stewart as Resources and Critical Minerals Minister, Environment Minister Leanne Linard and Clean Economy and Jobs Minister Mick de Brenni.

“Queensland is in the strong position today because of its sensible approach extracting the economic benefits of gas towards net zero,” he said.

“We look forward to continuing this positive relationship delivering big benefits to Queenslanders.”

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