Today’s announcement that Santos and its GLNG partners will invest $900 million in Queensland gas fields this year is great news for local jobs and for east coast gas supply.
The announcement includes first-year funding of $750 million for the Roma East project – launched today – which will be developed over the next three years.
Roma East will create up to 400 construction jobs and produce almost 50 PJ a year, equivalent to around eight per cent of east coast demand.
APPEA Queensland Director Rhys Turner said the Roma East project would provide a significant economic boost to communities in south-west Queensland.
“This is a huge win for Queensland jobs and for regional development,” Mr Turner said.
“More gas also means more royalties for the Queensland Government.
“Today’s announcement shows that Queensland’s gas industry is meeting its commitment to develop more gas for the domestic market as well as for export.”
Mr Turner said the announcement once again demonstrated how Queensland communities were benefitting from the responsible development of the State’s natural gas resources.
“New South Wales and Victoria should take note. Saying no to gas development means saying no to jobs, royalties and lower energy prices.
“The failure of NSW and Victoria to develop their own gas supply means customers in those states are paying a premium for their gas. The Australian Competition and Consumer Commission says transport costs can add 25 per cent to the price southern customers pay for Queensland gas.
“Interstate gas will always be more expensive than local supply.
“As the International Energy Agency warned this month, removing the senseless state bans and restrictions on gas operations is essential if Australia is to deliver secure and affordable energy.”