09 Nov 2023

Media Release: Queensland gas exploration push to unlock new supply, economic benefits

A new Queensland program supporting exploration to unlock new gas reserves will be a boost to east coast energy security and deliver even more economic benefits for Queenslanders.

Australia’s oil and gas industry today said the Queensland Government program would help homes and businesses on the eastern seaboard continue to enjoy affordable and reliable energy supply.

Australian Energy Producers Queensland Director Keld Knudsen said the opening of the program to applications would help inject millions of dollars of exploration investment into regional communities around the Bowen and Galilee basins.

“Gas exploration is the first step to securing new gas supply and keeping energy reliable and affordable,” Mr Knudsen said.

“Queensland understands how to extract the benefits of gas on the path to net zero, with exploration for gas to uncover the state’s abundant supplies delivering millions of dollars of investment into regions.

“Securing new supply can then deliver more benefits to Queenslanders – like 30,000 jobs along the supply chain, the billions spent with local Queensland suppliers and contractors, or the $1.4 billion a year of royalties flowing to the state Budget on average.

“This revenue is helping the state fund critical public services and infrastructure such as its hospital building program, cost of living relief, and youth justice reforms.”

Mr Knudsen said the attitude towards new gas supply from Queensland contrasted to the policies of southern states Victoria and New South Wales where onshore bans and regulatory uncertainty remain.

“Queensland is reaping the benefits of producing gas while the southern states dither and neglect the national interest and shared responsibility all jurisdictions should exhibit to ensure energy supply,” he said.

“There are mounting warnings of energy supply shortfalls in coming years in New South Wales and Victoria yet these southern states continue to outsource their energy security to Queensland.”

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