The Australian Petroleum Production and Exploration Association (APPEA) has cautioned that any restrictions amounting to prohibiting gas exploration and development in Queensland’s Cooper Basin would prove detrimental to the local job market.
The industry body expressed concerns about potential job losses and the resultant negative impact on investment in the sector, as well as the possibility of increased energy costs for households and businesses.
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This comes amidst reports that the Queensland Government is planning to bring new regulatory measures to ban gas exploration and development in parts of the Cooper Basin.
APPEA Queensland director Rhys Turner said: “These new regulations appear to be an attempt to appease foreign-funded activist groups that oppose traditional energy sources and have been targeting government MPs in metropolitan seats.
“This defies common sense and threatens to inflict on Queensland the sort of energy market chaos that has so far been confined to southern states.”
It is said that operators have continued to engage in the production of natural gas in the Cooper Basin for 40 years.
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By GlobalDataLast year, the basin accounted for 14.5% of Queensland’s gas supply.
Turner further added: “Right now, Queensland gas companies are looking to invest new projects in the Cooper Basin worth hundreds of millions of dollars. These projects, and the jobs they would support, are now at risk.
“Restricting new gas supply would also drive up energy costs for the 885,000 Queensland households and businesses that rely on bottled and piped gas.”
According to APPEA, the gas industry supports more than 2,100 jobs in the South West and Central West regions.
