Applications are now open for the Australian Government’s Gas Acceleration Program (GAP), which is designed to boost onshore gas development and supplies for the domestic market.
Minister for Resources and Northern Australia, Matt Canavan, said it’s essential that Australia continues to invest in its gas sector to meet the needs of industry and domestic users.
“This program is a significant component of the Australian Government’s $90 million investment in gas security, reliability and affordability,” Mr Canavan said.
“Australia has significant gas reserves that can power our economy and earn export dollars.
“Estimates suggest there could be the equivalent of about 40 years’ worth of gas yet to be developed in Victoria, while the Northern Territory is said to be sitting on more than 200 years’ worth of gas.”
Applications for the first round of the three-year Gas Acceleration Program are open until 13 February 2018, with projects designed to speed up the delivery of new onshore supplies able to attract up to $6 million each.
“The Gas Acceleration Program will provide up to $6 million for each project that demonstrates proven prospects of bringing significant new gas volumes to target markets by mid-2020,” Mr Canavan said.
These could include new technologies that boost the productivity of new or existing wells, building new exploration wells near existing gas infrastructure, or constructing new processing, storage and transport facilities.
Applications close 13 February 2018.