APPEA baffled by NSW government gas exploration freeze

APPEA baffled by NSW government natural gas exploration freeze

The oil and gas industry finds extraordinary both the timing and the content of reports that the NSW Government plans to extend its freeze on natural gas exploration, APPEA said on Thursday. 


The announcement comes just days after the Federal Government released its draft Energy White Paper that specifically flagged the need for an urgent uplift in NSW gas production – a call that has been backed by a wide coalition of business and manufacturing bodies in NSW and more widely.

It also appears the announcement is set to be made just days ahead of the NSW Chief Scientist’s report into the science of gas development in NSW – sending a message to industry and third parties that such policy announcements are made independent of scientific consideration, APPEA said in  a statement.

NSW consumes around a quarter of the gas used in the eastern Australia gas market, yet supplies only about one per cent of the gas production for that market.

The state’s 1.3 million gas customers rely on interstate producers for 95 per cent of their supply, despite the state possessing very significant reserves and experienced gas companies willing and able to produce local gas for local consumers.

NSW regulated gas prices are increasing by more than 10 per cent this year.

New production depends upon successful exploration activity. And without new exploration and production in NSW, it will be very difficult to put downward pressure on NSW gas prices, it added.

 

Press Release, September 25, 2014; Image: APPEA

Share this article

Follow LNG World News

One thought on “APPEA baffled by NSW government gas exploration freeze”

  1. Pingback: Phillip

Comments are closed.

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

The 6th CWC China LNG & Gas International Exhibition & Summit

Following on from LNG 2019 and five successful editions in Beijing, the established China LNG & Gas International Exhibition & Summit…

read more >

LNG Pricing, Trading & Hedging: 3-Day Training Course – Singapore / Jan 2019

This three-day training program provides a unique opportunity to learn and apply the practical skills, knowledge and tools needed to:…

read more >

American LNG Forum 2020

The American LNG Forum is your gateway to learning about the US LNG export industry,

read more >

2nd Global LNG Forum

Global LNG Forum is an exclusive networking and knowledge-sharing platform for top experts and business leaders in the industry.

read more >