QRC welcomes new Queensland gas exploration

THE Queensland Resources Council (QRC) today welcomed Mines Minister Anthony Lynham’s decision to award three companies the Authority to Prospect (ATP) for gas on more than 1,510 square kilometres of land in the Surat Basin.

QRC chief executive Ian Macfarlane said the onshore investment by the Santos/Shell joint venture and Bridgeport Energy demonstrated Queensland’s ability to get on with the job of supplying gas.

“We back our resources industry in Queensland, and that means industry and government working together to increase the supply of gas for both domestic and LNG customers while supporting local jobs,” Mr Macfarlane said.

“The contrast between resources-friendly Queensland and the Southern States has deepened, with yet more investment in the local gas industry while other states remain locked up.

“How much longer will NSW and Victoria rely on Queensland to make the investments that keep their industries supplied with gas and keep their economies ticking?

“The Queensland gas industry is a great success story. It has created thousands of jobs and billions of dollars worth of investment in regional Queensland. It is also powering domestic industry." Mr Macfarlane said.

“Reliable and affordable gas is a must-have for Australian industries, including refining and manufacturing.

“To keep the gas success story going strong it is essential the Queensland has open and transparent regulation and that there are no sudden changes without full consultation with industry.

“The resources industry is still committed to working with the Queensland Government on its review of royalty taxes for gas.

“However, we believe it is in the best interests of all Queenslanders to delay the introduction of the proposed 25 percent royalty increase until January 1 2020, and to exclude domestic gas from the increase.”

www.qrc.org.au

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