Queensland Premier Annastacia Palaszczuk’s call for more investment in gas pipelines following her recent trip to the United States shows that when it comes to gas supply, Queensland gets it.
APPEA Queensland Director Rhys Turner said the Premier was right to focus on infrastructure development to open up new resource provinces.
“The single greatest factor in the growth of the US economy over the last decade has been the development of its own energy reserves, including natural gas,” Mr Turner said.
“The US economy is now powering ahead and its energy-related emissions are at their lowest level since 1991, having fallen about 13 per cent since their peak in 2007. The main reason for this is the increased use of natural gas.”
Mr Turner said Queensland was already Australia’s key energy province and had more promising gas fields that could be developed in the Galilee and Bowen basins.
“While a healthy and vibrant exploration sector is the key to providing tomorrow’s jobs, economic growth and energy security, it can all amount to nothing without infrastructure to get the gas to market,” Mr Turner said.
“The Queensland Premier’s sensible and constructive comments about the need for more investment in pipeline infrastructure should be commended.
“Government investment in productive infrastructure is not a new thing, as long as it provides a public good.
“The public good attached to government investment in pipeline infrastructure is the new energy supplies such pipelines can bring to market and the broader positive impacts this has in terms of supporting jobs and helping to keep downward pressure on prices.”
Mr Turner said illogical moratoriums and government-sanctioned ‘go slows’ in other states mean Queensland must do the heavy lifting in supplying gas to the east coast market.
He said it made sense for the Commonwealth to consider incentivising investment in Queensland pipeline infrastructure as a means of boosting east coast gas supply.