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Consultation starts on Future Gas Strategy

Image shows an LNG operation

Photo by Bloomberg

3rd October 2023

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – The federal government has released a discussion paper and opened consultations on a national Future Gas Strategy. 

Minister for Resources and Northern Australia Madeleine King said Australia’s gas policy settings were important for Australia’s energy security, for business and industry, for the environment and for local economies. 

The federal government in May announced a A$6.7-million investment during the federal Budget, to develop a Future Gas Strategy to support Australia’s energy system to reach 82% renewables by 2030, and become cleaner, cheaper and more reliable while maintaining the country's international reputation as a trusted energy supplier to the region.

King on Tuesday said the strategy will help government, industry and households make decisions about the future role of gas.

“The Future Gas Strategy will ensure Australia has the long-term policy clarity needed to support decisions across communities, industry and governments,” King said. 

“The role of gas will change as the world decarbonises – both in Australia’s energy mix and in the energy use of our trading partners.”

King said gas was essential to modern supply chains which connected Australia in complex ways with trade and investment partners, creating essential goods, services and jobs at home and abroad.

“We need to ensure gas demand decreases faster than supply through the energy transition,” she said. 

“Gas shortages, supply disruptions and high prices are among the consequences of reducing supply faster than demand. These consequences disproportionately impact those who can least afford them, worsening poverty and inequality.”

King said the strategy would be informed by widespread consultations with industry, international trade and investment partners, and the Australian public.

The strategy is due to be finalised next year.

Edited by Creamer Media Reporter

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