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Strategic plans unveiled for North Bowen and Galilee basins

23rd September 2021

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – The federal government has unveiled the North Bowen and Galilee Basin Strategic Basin Plan, aimed at turbocharging economic development and jobs in central Queensland by unlocking the gas resources in the North Bowen and Galilee basins.

“The plan supports industry to develop the region’s major gas resources and is the second to be delivered under the Government’s Strategic Basins Plan Program,” Minister for Resources and Water Keith Pitt said.

“The North Bowen and Galilee basins are estimated to hold enough gas to meet Australia’s east coast needs for over a decade. The new plan will support industry to overcome the specific challenges of developing these resources.

“The strategic plan supports the government’s agenda for a gas-fired recovery, and will help deliver affordable gas for Australian industries and households.”

Member for Dawson George Christensen said the North Bowen and Galilee Basin Strategic Basin Plan had the potential to create thousands of jobs and grow the local economy.

“This plan is going to open up these geologically promising basins, creating up to 5 500 new jobs in Queensland by 2030,” Christensen said.

“It will promote private sector confidence and bring forward investment to stimulate the economy of central and north Queensland.”

The plan includes A$20.7-million of investment to unlock gas potential in the basins, and will leverage more than A$400-million in research funding and critical infrastructure upgrades.

Some A$15.7-million will be invested in gasfield trials, including innovative drilling programmes, to prove the region’s potential, and a further A$5-million in studies to support development of a new gas pipeline to the region, co-funded by the Queensland government. 

A further A$14-million in funding would go towards Geoscience Australia and Commonwealth Scientific and Industrial Research Organisation (CSIRO) to deliver better data about baseline conditions across each of the government’s priority strategic basin regions, A$13.7-million to continue research under the CSIRO’s Gas Industry Social and Environmental Research Alliance, and more than A$370-million for various road upgrades to support supply chains, trade and project construction, through the Northern Australia Roads program, Roads of Strategic Importance initiative and the Regional Economic Enabling Fund.

Pitt said the government is working in partnership with state and local governments, industry, communities and the University of Queensland, to unlock the potential of the basins.

The Queensland Resources Council (QRC) has welcomed the North Bowen and Galilee Basin Strategic Basin Plan, saying it would help Queensland recover from the impacts of the Covid-19 pandemic.

“This Strategic Basin Plan for the North Bowen and Galilee will open up these geologically promising basins, bringing forward investment to stimulate the economy of central and North Queensland,” said QRC CEO Ian Macfarlane.

“New gas supply is good news for gas customers because extra supply helps keep a lid on domestic prices right along the East Coast.

 

“The QRC commends the Australian government on the immediate actions proposed in the Strategic Basin Plan today, including A$15.7-million in gas well trials help drive down production costs for all potential gas producers and accelerate investment decisions in the basins.

The North Bowen and Galilee Basin Strategic Basin Plan comes after the federal government provided up to A$50-million in funding to accelerate exploration and development of the Northern Territory’s Beetaloo sub-basin.

Edited by Creamer Media Reporter

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