Media release: Natural gas essential to achieving ambitious 2035 climate target

The Federal Government’s ambitious 2035 climate target will need to be backed by policies that recognise the critical role of natural gas in reducing emissions while ensuring Australians continue to have reliable and affordable energy.

Australian Energy Producers Chief Executive Samantha McCulloch said Australia’s oil and gas sector is already doing a lot of the heavy lifting to cut emissions under the Safeguard Mechanism and through the deployment of carbon capture, utilisation and storage technologies.

“Natural gas provides the reliable back up for growing shares of wind and solar in our energy mix,” Ms McCulloch said.

“Gas will need to play an even greater role if Australia is to achieve the ambitious targets announced today, which will require increased action and investment across the economy.” 

The government’s Net Zero Plan and sector plans released today recognise the critical role of natural gas in Australia’s energy mix and in achieving net zero by 2050.

“Continued investment in new gas supply is needed to meet Australia’s long-term energy demand, because without gas the energy transition becomes harder, more expensive and less reliable.

“Australia’s policies should also recognise the growing opportunity for our LNG exports to deliver energy security and emissions reductions in our region.”

Ms McCulloch said Australia’s ambitious climate goals means all technologies must be on the table, and CCUS will need to play a major role in cutting industrial emissions.

“The International Energy Agency, Intergovernmental Panel on Climate Change, and CSIRO have all found that there is no pathway to net zero without CCUS.

“The oil and gas industry stands ready to work with governments and other sectors to ensure we can achieve Australia’s climate goals while keeping energy secure and affordable for all Australians,” Ms McCulloch said.