March 30, 2012
The successful passage of the Gas Services Information Bill through the Western Australian Parliament this week is a positive step that will add to the transparency of the gas market in Western Australia, according to the industry’s peak body.
Australian Petroleum Production & Exploration Association (APPEA) Chief Operating Officer, Western Region, Stedman Ellis said: “The industry has since 2009 advocated the development of a Gas Bulletin Board (GBB) and Gas Statement of Opportunities (GSOO) for WA as important market transparency and liquidity initiatives.
“APPEA sees particular merit in the WA GBB drawing on the existing infrastructure of the successful Eastern States GBB operated by the Australian Energy Market Operator (AEMO).
“The GSOO will help existing gas market participants and new investors make commercial decisions about investing in infrastructure or entering into gas industry contracts.
“The existing Eastern States GSOO was developed in close consultation with industry stakeholders and APPEA looks forward to a similar process being followed in WA. APPEA also recommends the WA GSOO be as closely integrated into the existing AEMO GSOO as possible.
“These developments are consistent with APPEA’s view, expressed in our submissions to the WA Strategic Energy Initiative and most recently in our submission to the Australian Government’s draft Energy White Paper, that long-term energy security is best delivered through efficiently operating markets and by encouraging new entrants and competition.” Download PDF