Natural gas increasingly unpins energy security in Australia and abroad.
With the transition away from coal-fired power generation and a growing share of renewables, the reliance on natural gas for secure and dispatchable power is increasing.
This was evident during the 2022 winter, where a combination of coal outages, limited renewable capacity and coal weather saw demand for natural gas increase by 55% relative to the same time in 2021.
The ability of the industry to ramp up supply to meet this demand was key to keeping the lights on along the east coast of Australia.
Policy priorities
- Enable investment for a secure, affordable energy future.
- Let the market work to unlock new gas supply and drive down energy prices across Australia.
- Support new oil and gas development through acreage releases, and encouraging states to lift moratoriums on new exploration and development.
- Assign major project status for new energy supply and low emissions technology projects.
- Ensure a modern and competitive fiscal system that removes regulatory and investment barriers to efficient market operation.