Key policy reforms and actions needed to strengthen the oil and gas sector and attract investment for growth have been outlined today with the release of APPEA's Queensland Election Policy Statement 2020 ahead of the October 31 election.
APPEA's comprehensive plan highlights around 20 key reforms to promote the responsible development of Queensland's oil and gas resources, improve investment certainty, support economic recovery and reduce regulatory burdens across the state.
APPEA Chief Executive Andrew McConville said there is real potential for regulatory reform in Queensland to reduce costs, increase productivity and support and attract further investment in energy supply.
"The industry has helped support the Queensland economy during a tough time and it will continue to power the economy for decades to come," Mr McConville said.
"Queensland's natural gas industry is here for the long-term to deliver economic growth and the stable supply of affordable energy to customers, including manufacturers. As the state continues to invest in renewables, natural gas is also the perfect complement to ensuring the stability of energy supply.
"Today, nearly 30 per cent of Australia's LNG production is located in the state and this helps underpin high paying jobs and economic growth in key regional areas such as Gladstone, Toowoomba, Roma, Chinchilla and Dalby."
Mr McConville said: "With restrictions in other states, there is an ongoing reliance on Queensland to do the heavy lifting for supplying the east coast gas market.
"It's imperative that stable and efficient regulatory regimes are in place in the state to support ongoing, long-term investment to increase investment and secure energy supplies.
"With a tradition of bipartisan support for industry in Queensland, APPEA and its members look forward to working with all sides of politics to position our policy priorities in the lead-up to the October election."
Read APPEA's comprehensive election platform
