The Queensland Resources Council (QRC) applauds the Palaszczuk Government for granting Senex Energy a licence to produce up 26 petajoules of gas every year into the domestic market from the company’s Project Atlas in the Surat Basin.
QRC Chief Executive Ian Macfarlane said the granting of the licence with a domestic-only condition was an example of the State’s leading regulatory framework.
“This pilot guarantees gas for domestic use and avoids the overly prescriptive conditions in a gas reservation policy. Not only will it create 150 jobs but the pilot has been a success in best-practice regulation in action – fast, effective and focussed on outcomes,” he said.
“The move that will see Senex supplying gas within two years comes a day after the Federal Government announced four projects – three in Queensland – to be funded under the $26 million Gas Acceleration Program (GAP) to supply an extra 12.4 petajoules of new gas to the East Coast market by 30 June 2020and an extra 27.6 petajoules over five years.
“A recent finding from the Oakley Greenwood report found Queensland was once again leading the way in solving the East Coast gas squeeze with the lowest delivered gas price for large industrial customers.
“The QRC will continue to work constructively with the Government on its election commitment to release gas annually to increase supply and put further downward pressure on prices.
“Other State Governments and Territories need to get their heads out of the sand and back the science and their own industries. Only yesterday an inquiry recommended to the NT Government to lift its fracking moratorium and develop its onshore gas.”
The Queensland resources sector now provides one in every $6 dollars in the Queensland economy, sustains one in eight Queensland jobs, and supports more than 16,400 businesses across the State – with almost 7000 businesses in the Greater Brisbane region – all from 0.1 percent of Queensland’s land mass.