Australian Energy Producers welcomes the NSW Government’s announcement to open new areas for gas exploration for the first time in more than a decade, describing it as a critical step towards strengthening the state’s future energy security.
NSW State Director Peter Kos said the release of acreage in the Bancannia and Pondie Range Troughs would help unlock new domestic gas resources.
“Today’s announcement is the first essential step in unlocking new domestic natural gas resources for NSW homes and businesses,” Mr Kos said.
“Natural gas is essential to NSW’s energy security and economic growth, and we need continued investment in exploration and production to secure our state’s long-term energy needs.
“The gas industry stands ready to work with the NSW Government to bring new supply online and deliver affordable, reliable and cleaner energy for households and businesses.”
The NSW Government will open an Expression of Interest process for exploration licences from 1 May, alongside reforms including a significant reduction in gas exploration licence application fees.
“Lowering application costs is a practical step to encourage new exploration activity and support the development of additional supply,” Mr Kos said.
“With more than 1.5 million gas connections across the state, bringing on new supply is the most effective way to ease pressure on prices and ensure reliable, affordable energy for households and businesses."
