The Federal Opposition’s commitment to unlock new gas supply and investment is a welcome recognition of the critical role natural gas will continue to play in ensuring reliable and affordable energy for Australian households and businesses.
Australian Energy Producers Chief Executive Samantha McCulloch said Opposition Leader Angus Taylor's pledge to support states and territories to develop new gas projects, alongside measures to remove regulatory barriers and accelerate approvals, recognised the need for governments to work together to accelerate energy investment.
“Australia has abundant gas resources and we should be encouraging their development, not putting more barriers in the way,” Ms McCulloch said.
“This is critical not just for Australia’s energy security but for our future economic prosperity, with the gas industry supporting more than 215,000 jobs and contributing $100 billion to the economy each year.
“Investment in new gas supply is key to putting sustained downward pressure on prices and ensuring Australian households, businesses and manufacturers continue to have access to reliable and affordable energy.
“Unlocking that supply requires policies that encourage investment and give companies the confidence to commit billions of dollars to projects that can take many years to develop.”
Ms McCulloch said the Coalition’s commitment to remove regulatory barriers was particularly important at a time when Australia was competing globally for investment.
"Australia must remain globally competitive for investment in new gas projects. Unnecessary delays and regulatory barriers risk driving investment overseas.
“Rigorous environmental standards must be matched by an approvals system that is efficient, timely and provides certainty for investors.
“The decision last year to exclude oil and gas projects from the Environment Protection and Biodiversity Conservation Act’s national interest test and streamlined assessment pathways was a mistake. The global energy crisis has been a sobering reminder that Australia cannot afford to delay vital new oil and gas supply.”
