May 17, 2015

There’s no doubt that the oil and gas industry is one of Australia’s success stories.

Its importance to our national economy by way of export revenue, job creation and regional development cannot be overemphasised.

Australians use more oil and gas than any other energy source and this trend is expected to increase in the years ahead.

Oil and gas will continue to account for more than two-thirds of Australia’s final energy consumption to the end of the forecast period in 2049–50.

Given its importance to our economy and energy security, the oil and gas industry plays a major role in our success as a modern nation.

So all of us—Government, industry and community—have a huge stake in safeguarding its future.

It’s important we are able to take regular stock of the state of the industry, as well as identifying ways to tackle challenges and fulfil our potential.

To read the full speech, click this link.