Media release: Queensland gas exploration approvals boost supply and investment confidence

The Queensland Government’s appointment of preferred tenderers for new gas exploration areas is an important step towards strengthening future gas supply and easing energy market pressures.

Australian Energy Producers Queensland Director Keld Knudsen said opening new exploration acreage in the Cooper-Eromanga Basin will boost Queensland’s long-term energy security and send a positive signal to investors.

“Bringing new exploration opportunities to market is critical to securing the next generation of gas supply and maintaining Queensland’s role as a national energy powerhouse,” Mr Knudsen said.

“New supply is the most effective and sustainable way to put downward pressure on energy prices, support industrial growth and ensure households and businesses continue to have access to reliable and affordable energy.”

Mr Knudsen said gas remains essential to Queensland’s electricity system, manufacturing base and regional economies, supporting thousands of jobs and billions of dollars in economic activity each year.

“Importantly, it’s this sort of investment into regional Queensland that creates new jobs, supports local businesses and strengthens regional communities.”

Australian Energy Producers also welcomed the Government’s work to improve the land release process, including measures to streamline approvals and increase transparency.

“A faster, clearer and more predictable approvals framework will help accelerate responsible development and ensure Queensland remains an attractive destination for energy investment,” Mr Knudsen concluded.