November 1, 2020

Oil and gas reforms key to Queensland’s energy future

Australia’s oil and gas industry congratulates Premier Annastacia Pałaszczuk and the Labor Party on their election success in Queensland on Saturday.

APPEA Chief Executive Andrew McConville said the industry makes a significant contribution to the state and has invested more than $70 billion into Queensland’s economy due to the rapid development of the natural gas and LNG industries. 

“As a key driver of Queensland’s economy, the oil and gas sector is committed to working with the new government as there are many challenges ahead for economic recovery,” Mr McConville said.

“We have a long and proud history of engaging with the government to grow the sector to where it is today.

“Industry is committed to partnering with the Premier and her Government, once sworn-in, in the recovery process and working to implement our comprehensive 20-point plan to help the state grow.  This is more important than ever because of the shared challenges.”

In September, APPEA released its Queensland Election Policy Statement 2020, highlighting there is strong potential for regulatory reform in Queensland to reduce costs, increase productivity and support and attract further investment in energy supply.

“APPEA’s key reform priorities focus on promoting the responsible development of Queensland’s oil and gas resources, improving investment certainty, supporting economic recovery and reducing regulatory burdens across the state,” Mr McConville said.

“Queensland’s natural gas industry is here for the long-term to deliver economic growth and the stable supply of affordable energy to customers, including manufacturers.  In addition, as the state continues to invest in renewables, natural gas is also the perfect complement to ensuring the stability of energy supply.

“Nearly 30 per cent of Australia’s LNG production is located in the state and this helps underpin high paying, highly skilled jobs and economic growth in key regional areas.

“The industry has helped support the Queensland economy during a tough time and it will continue to power the economy for decades to come by providing energy security.

“With a tradition of bipartisan support for industry in Queensland, APPEA and its members look forward to working with all sides of politics to ensure the state’s energy future.”

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