Queensland Launches Gas Action Plan to Stimulate Supply, Create Jobs

- July 8th, 2015

Mining Weekly reported that the Queensland government launched a gas action plan, which is aimed at growing its gas industry while boosting employment.

Mining Weekly reported that the Queensland government launched a gas action plan, which is aimed at growing its gas industry while boosting employment.
As quoted in the market news:

State Development and Natural Resources and Mines Minister Anthony Lynham announced the development of the Queensland Gas Supply and Demand Action Plan, which would be completed early next year.
“This action plan will be an overarching strategy to maximise exploration, drive development, keep gas costs down and get maximum economic and job benefit for Queensland,” Lynham said. “The eastern Australian gas market is undergoing a period of rapid growth and structural transformation following the commencement of gas exports to the Asia-Pacific market. The government needs to take the lead on the gas-related issues that will affect our households, our businesses, our industries and our jobs growth.”
Lynham said that the gas plan would aim to stimulate increased gas supply, optimize the economic recovery of gas resources, and leverage and build on the commonwealth government’s various gas and energy initiatives. A key part of the plan would be looking at future opportunities.
“Global demand for Queensland gas, led by Asia, is increasing. By 2018, Queensland is expected to be the fourth-largest LNG [liquefied natural gas] exporter globally and by the end of the decade Australia has the potential to be the world’s leading LNG exporter,” Lynham said. “On the domestic front, natural gas demand on the Australian east coast is forecast to grow at a staggering 16.5 percent each year. The action plan will examine the full spectrum of gas demand, business and employment opportunities in Queensland beyond what’s already happening or in the pipeline with LNG production at Gladstone,” he said.

Click here to read the full Mining Weekly report.

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