APPEA supports Queensland Gas Supply and Demand Action Plan

The Australian Petroleum Production & Exploration Association (APPEA) has issued a statement in support of Queensland’s plans to develop a gas action plan that encourages new exploration and development for Australia’s domestic and export markets.

State Development and Natural Resources and Mines Minister, Dr Anthony Lynham, recently announced that a new Queensland Gas Supply and Demand Action Plan would be released early next year.

The Plan will aim to reinforce Queensland's status as a lead jurisdiction for onshore gas supply, market development and demand issues.

The APPEA’s Chief Operating Officer – Eastern Australia, Paul Fennelly, said: “With commitment and determination we can achieve the right policy settings to ensure the natural gas industry continues to power the Queensland economy for decades to come.

“It is essential that the plan focus on policies that will substantially enhance the industry’s global competitiveness and encourage investment in new exploration and production.

“That means continuing to reject unworkable intervention policies, such as domestic gas reservation, that will deter investment and only create adverse economic outcomes in the longer term.”

Mr Fennelly added that the investment of more than AUS$70 billion worth of new gas infrastructure in Queensland since 2010 would help Australia become the world’s leading LNG exporter in the next few years.

Edited from press release by Callum O'Reilly

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/09072015/appea-supports-queensland-gas-supply-and-demand-action-plan-1011/