South Australia’s new Energy and Mining Strategy highlights the important role natural resources must play in the State’s economic recovery.
The new strategy Building on our Strengths will ensure resources, including oil and gas, are developed and managed responsibly, remaining an important contributor to the state’s economy as South Australia emerges strongly from the COVID-19 pandemic.
APPEA Chief Executive Andrew McConville said it was encouraging to see energy and mining recognised in the nine sectors identified by the SA Government as contributors to the state’s economic recovery.
“The Government’s new energy plan highlights the importance of natural gas for SA’s economy. We need ongoing investment as we move towards a cleaner energy future with modern, lower impact development of natural resources,” Mr McConville said.
“We strongly support the focus on improving the productive capacity of resource exporting companies and associated supply chains as well as creating a modern energy system with innovation and technology to help meet Australia’s targets for reducing greenhouse gas emissions.”
Mr McConville said the Government’s $48 million Plan for Accelerating Exploration for Gas (PACE Gas) has encouraged gas exploration and production through a competitive grants program, aligning with the Australian Government’s Gas Acceleration Program.
“We need to unlock exploration and development through further acreage releases, especially during the current economic challenges,” Mr McConville said.
“With the right policy settings, the industry in SA can play a vital role in supporting Australia’s economic recovery as outlined in APPEA’s recent blueprint Powering Australia’s Recovery.
“Australia has world-class resources reserves, including in South Australia, and developing these resources will provide stable, secure and affordable energy for Australia and export customers for decades to come,” Mr McConville said.
“We are absolutely committed to working with the Government to implement their strategy.”