Queensland is strengthening its position as the most reliable supplier of gas on the East Coast after the Palaszczuk Government awarded more than 2700 square kilometres of energy rich land for exploration.
Queensland Resources Council (QRC) Chief Executive Ian Macfarlane said the economics of supply and demand were simple.
“If demand for gas is strong you need to increase supply to put downward pressure on prices,” Mr Macfarlane said.
“I applaud the Palaszczuk Government and the Resources Minister Dr Anthony Lynham for their continued support of the State’s gas industry. This is an investment into regional Queensland, where all levels of governments and farmers support the gas industry, resulting in massive economic benefits for farmers and rural and regional communities.
Brisbane-based Senex Energy was awarded 153 square kilometres near Miles under the domestic-only supply mechanism, while a Santos/Shell joint venture, Galilee Energy and Sajawin won the right to explore for gas across more than 2600 square kilometres between Miles and the border town of Inglewood.
Mr Macfarlane said Queensland’s neighbours must take a leaf out of our book. New South Wales and Victoria can’t expect Queensland to continue to supply, and subsidise, their own gas users.
“It’s time for both sides of politics to consider rewarding States that do develop their resources, at the expense of those who don’t,” he said.