The Crisafulli Government says it taking action to drive down energy prices by attracting new investment in Queensland’s gas industry.
Minister for Natural Resources and Mines Dale Last announced the opening up of new tenures for gas exploration, and a review into how land is released for exploration across the resources sector.
From tomorrow, nine new areas will made available for tender across the Bowen/Surat Basins.
The tender areas include both conventional and unconventional gas opportunities.
Also available is Cooper/Eromanga Basin.
The government says production from the tenure release would put downward pressure on energy prices, after Labor’s anti-gas policies sent investment off a cliff.
Importantly, no land release areas intersect with the Lake Eyre Basin Strategic Environmental Area – Designated Precinct.
A targeted three-month land release review will get underway, aiming to improve the efficiency and transparency of opening areas for exploration.
Minister for Natural Resources and Mines Dale Last said the initiatives will make Queensland more attractive for gas investment.
“The best way to bring down energy prices is to have more energy in the market, and that starts with exploration,” Minister Last said.
“These steps are about unlocking new supply, securing an investment pipeline and getting the right policy settings in place so Queensland can lead the way on energy security,” he said.
“Unscientific decisions made by the southern states have left Queensland carrying the load for the east coast gas market. We need a regulatory framework that supports new development, instead of holding it back.”
Australian Energy Producers Chief Executive Samantha McCulloch said the announcements demonstrated Queensland’s strong commitment to ensuring reliable and affordable energy for Queenslanders.
“We particularly welcome the announcement that tenders for nine parcels of land for gas and petroleum exploration are now open – a critical step in securing the future gas supply Australian households and industry will need,” Ms McCulloch said.
“Queensland is already doing the heavy lifting to keep the lights on and ensure reliable gas supply along the east coast of Australia.”
