13 Oct 2015

The oil and gas industry welcomes a new report released by the Australian Government recognising the economic importance of Queensland’s coal seam gas industry.

The report titled ‘Review of the socioeconomic impacts of coal seam gas in Queensland’ says the “headline economic impacts of CSG development in Queensland to date are found to be net positive, and are attributable to increases in employment, income, output, consumption and government revenue”.

APPEA Chief Executive Dr Malcolm Roberts said the benefits of world-first CSG-LNG projects would never have materalised without political leadership and community efforts to work, liaise with and understand how natural gas is produced and used.

“The report acknowledges the role governments have played in fostering good relationships between communities, industry and rural landholders,” Dr Roberts said.

“Sensible policies and regulations that provide certainty to all stakeholders are now bearing fruit.

“The economic benefits from gas production and export will last for decades.

“We must continue to be good neighbours in regional areas through support and ongoing consultation.”

Almost $1.4 billion worth of LNG has been exported from Queensland this year.

This contributed to a 15.7 per cent increase in the nominal value of the state’s overseas merchandise exports in the August quarter, compared to the same period last year.

The report by the Office of the Chief Economist can be found at this link. Download PDF

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