A new report says building a gas project at Narrabri would save homes and businesses $236m
A new report says a proposed gas project in Narrabri will deliver cheaper gas and save households and businesses well in excess of $200 million.
NSW
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Approval of the Narrabri gas project can save NSW households and businesses up to $236 million a year, a new report says.
“I think it’s essential it does get approval,” the report’s author, EnergyQuest CEO Graeme Bethune, said.
NSW imports nearly all its gas needs from interstate and the traditional supply basins are in decline.
If the gas has to be delivered from further away, transport costs will more than double by 2025, Mr Bethune predicts in his report, released on Tuesday for the NSW Business Chamber.
He estimates the annual extra cost for NSW users – when compared to those in other states – will be $236 million.
Approving the Narrabri gas project was the best way to prevent that, he said.
It could deliver cheaper gas than importing from overseas.
Over 1.3 million homes in NSW use gas for cooking and heating and it underpins about 250,000 NSW jobs.
The finding adds to the case for approving the 95,000 hectare project in the Pilliga state forest.
Earlier this week the Australian Competition and Consumer Commission said southern states risk facing a gas shortfall in the medium-term. More exploration and development was part of the solution, the ACCC said.
The Department of Planning will shortly refer the Narrabri project to the Independent Planning Commission for assessment.
A decision is expected on its future by July.
Under a recent deal with the federal government, the state government has to add 70 petajoules of gas to the east coast market. The Narrabri project’s capacity is slightly greater than 70PJ.
Originally published as A new report says building a gas project at Narrabri would save homes and businesses $236m
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