The voice of Australia's oil and gas industry has backed a new investment to develop the next phase of onshore natural gas in Queensland.
The Australian Petroleum Production & Exploration Association (APPEA) said the move announced today by Shell's QGC business would provide more gas to support domestic gas supplies and Queensland's international markets.
As part of its QGC venture in partnership with CNOOC and Tokyo Gas in the Western Downs region of Queensland, Shell said it would progressively drill and connect approximately 145 new gas wells between now and 2024.
APPEA Acting Queensland Director Matthew Paull said the announcement would not only support jobs and the economy but would boost domestic gas supplies.
"We welcome this move by Shell's QGC business to back in this new phase," he said.
"More investment means more supply and more jobs for the economy."
According to Shell, the wells will connect to existing gas processing plants and will bring approximately 210 petajoules of gas to market over the next 15 years.
That is enough gas to power a regional centre like Toowoomba for more than 200 years.
Mr Paull said the long-term planning showed demand for gas would stretch into coming decades.
"It shows the industry is planning - and investing - to be a critical part of Australia's energy mix in the decades to come," he said.
"The industry is strongly committed to net zero greenhouse gas emissions by 2050 and gas can play a critical role as a cleaner source of energy."
Mr Paull said the industry had been calling for more competitive investment policy settings to create better conditions and encourage even more investment from the sector.
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