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NSW politics is harming LNG project investment

LNG Industry,

The Australian Petroleum Production & Exploration Association (APPEA) has said it is alarmed by the NSW Labor Party’s continued politicisation of gas development in New South Wales, and is concerned that political rhetoric will impact LNG project investments in the state.

NSW has a looming energy security problem, with the state currently importing 95% of its gas supply and facing the very real risk of supply shortages over the next few years.

New South Wales also has a coal seam gas industry, which has safely delivered 100% of the state’s indigenous supply for over 10 years.

Queensland LNG

NSW should take a leaf out of Queensland’s book. Queensland’s CSG industry currently employs almost 40,000 people, and the state is on the cusp of delivering AU$ 70 billion worth of LNG projects. Such investments will make that state a globally significant exporter of LNG to Asia.

As a Resources Minister in a former ALP Government, John Robertson supported the development of a NSW gas industry and oversaw the industry’s expansion.

However, most recently he has chosen to align his party with the Greens campaign, issuing the following statement: “Fracking causes all sorts of consequences and raises very serious concerns about contamination to water aquifers”.

According to the APPEA, this statement “ignores both science and 60 years of demonstrated experience.”

Instead of seeking to scare voters, Robertson should be telling them fracking has been used safely around the world in more than 2 million oil and gas wells since 1948.

NSW regulated gas prices rose 18% last week and there are currently gas companies able and willing to invest in NSW and help put downward pressure on these rising prices. “Alarmist comments do nothing to help investor confidence,” the APPEA concluded.

Adapted from press release by Katie Woodward

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