APPEA welcomes the release today of two petroleum and gas exploration areas in Queensland.
The areas released by the Queensland Government include 86km² of land, 65km north of Injune in the Bowen Basin, and 365km² of land 40km south-east of Surat, covering both the Bowen and Surat Basins.
“The new acreage gives the industry more options to supply the growing demand for gas and is further proof of Queensland’s leading role in the Australian industry,” said APPEA Chief Executive Dr Malcolm Roberts.
“The development of the natural gas industry has been of great benefit to regional Queensland.
“Tapping into new gas reserves will sustain that success, creating more jobs and more investment in regional communities.
“COAG recently highlighted the urgent need to develop new gas reserves in Australia to offset falling output from long-established gas fields. Queensland is leading the way.
“Despite subdued global prices, the outlook for the local industry is very positive. More natural gas will be needed as Australia increases its use of renewable energy: as a low-emissions, rapid-response technology, gas-fired generation is the ideal complement to wind and solar.
“The Queensland Minister for Natural Resources and Mines is to be congratulated for his reforms. These have improved the transparency of acreage releases, ensuring early and open consultation with the community well before any exploration begins.”