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>

<< Sep 2019 >>
MTWTFSS
26 27 28 29 30 31 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 1 2 3 4 5 6

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >

Offshore Energy Exhibition and Conference 2019

The three-day event includes an exhibition where an expected 600+ supply chain companies will showcase their products and services.

read more >

LNGgc London

LNGgc is a fantastic way of raising attendees’ company profile within this market and creating greater awareness of their brand…

read more >

5th CWC China LNG & Gas International Summit & Exhibition

5th CWC China LNG & Gas International Summit & Exhibition will return 16 – 17 October 2019, bringing together the key players…

read more >