QLD driving down gas prices

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A recent independent report from the Australian Consumer and Competition Commision shows that Queensland continues to improve gas arrangements, driving down domestic gas prices and earning from exports.

Energy Minister, Anthony Lynham, said the Palaszczuk Government had taken positive policy action to grow gas supplies for Australian industrial users, to maintain downwards pressure on electricity prices for Queensland households and support the state’s liquefied natural gas export industry.

“In 2018, Queensland will be a net exporter to the southern states, with around 50 petajoules of Queensland gas flowing to other states,” Dr Lynham said.

“Senex’s Atlas project is underway on the first land we released for domestic-only gas production to fast-track supply.

“Even the Commonwealth Energy Minister complimented our initiative as a ‘a creative way forward’.

“My department is currently evaluating bids for another 6000 square kilometres of prospective acreage for domestic supply.

“The LNP opposition did little to get gas to market during their time in Government and when we released gas for the domestic market they were critical.

“And when the Turnbull Government intervened in the Queensland gas market, it wasn’t to grow the market to meet demand and help push down costs.

“Their solution was to reallocate gas, threatening billions of dollars of investment and jobs in Queensland’s LNG industry.

“More gas, not re-allocated gas, is what the east coast gas market needs, and that’s what the Palaszczuk Government is driving.

“We’d like to see the Turnbull Government step up with some infrastructure to support new gas basins to get more gas to market.”

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