The Chief Executive of the Australian Petroleum Production and Exploration Association (APPEA), Malcolm Roberts, has welcomed the Australian government’s proposed rules and regulations for the Emissions Reduction Fund safeguard mechanism, stating that safeguard mechanisms are of critical importance to the LNG industry.
Roberts said: “The rules and regulations to implement the safeguard mechanism must not add to the industry’s cost burden. The mechanism must not impose costs on Australian producers that inhibit industry growth or are not faced by our competitors. Presently we are a high-cost nation competing against a growing number of lower-cost challengers. If Australia wants to convert its abundant gas reserves into jobs, royalties and exports, it must reduce project costs, not add to them […] The Government appears to have taken on board some of the issues industry has highlighted during previous consultations and we look forward to working constructively to improve the operation of the mechanism.”
Edited from press release by Angharad Lock
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/03092015/appea-welcomes-erf-safeguard-mechanisms-rules-1234/