Gas industry cements future in Darling Downs at national meeting

Plans for a gas hub west of Toowoomba have been raised during a national consultation, with the country’s leading body in gas and oil pledging support for the project for a few key reasons.

A proposal for a new gas hub at Wallumbilla will cement the region’s reputation as a hub for gas and oil, according to one leading industry body.

The Australian Petroleum Production and Exploration Association, the country’s peak oil and gas body, has made a submission to the Gas Fired Recovery consultation to emphasise the role of the oil and gas industry in western Queensland.

The submission supported the Federal Government plans to construct the Wallumbilla gas hub, with “transparent” reporting for producers and manufacturers.

APPEA Chief Executive Andrew McConville said the submission also highlighted how the oil and gas industry would continue to play a key role in ensuring reliable, secure and competitively priced energy for all Australians.

“The industry played a leading role a decade ago in the development of the existing gas supply hub at Wallumbilla, and the other short-term trading markets that exist on the east coast,” Mr McConville said.

“We look forward to drawing on that experience and on the industry’s experience trading in these markets, as we move to the next stage of more detailed design and consultation.”

Mr McConville said a recent end of year report found the industry had the potential to boost national economic output by more than $350 billion, and could support the creation of 220,000 jobs over the next 20 years.

APPEA’s submission to the consultation focuses on how they can secure economic contribution both locally and nationally.

“Already the industry has spent $450 billion developing infrastructure and domestic gas prices have steadily declined since 2016, our submission is about igniting the industry and Australian economy again for the next twenty years,” Mr McConville said.

“With the right policy settings a recent EY report said the industry could boost national economic output by more than $350 billion and support the creation of 220,000 jobs over the next two decades.

“Our submission to Gas Fired Recovery consultation focuses on how we can achieve this economic output and bring billions of dollars of new investment online so there is more gas into the market, supporting both domestic gas consumption and the LNG export projects that are underpinning much of Australia’s economic growth.

“Already the industry has spent $450 billion developing infrastructure and domestic gas prices have steadily declined since 2016, our submission is about igniting the industry and Australian economy again for the next twenty years.”