The Government of Queensland has opened a bidding process for the rights to extract gas from its Surat Basin.
Queensland minister for state development and minister for natural resources and mines Dr Anthony Lynham announced the start of this tender process.
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All gas recovered from this location will be supplied to the domestic market.
The successful bidder will receive access to 58km² of land near Miles, south-west Queensland.
Dr Lynham said: “The parcel of land to be released through this tender process is regarded as highly prospective and located within an area that already has high volumes of gas production.
“The use of an Australian market supply condition for this innovative project seeks to bolster our gas supply and provide valuable market information for the government for the future management of our gas supplies.”
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By GlobalDataDue to the certain availability of gas resources within the area, the successful tenderer can directly proceed to a petroleum lease without conducting exploration and prospecting.
It will also facilitate commercial gas production, thereby ensuring faster supply to the Australian market.
Dr Lynham said that the tenderer needs to complete environmental and other requirements before securing any tenure.
It includes the negotiation and execution of land access agreements with landowners and native title parties.
Dr Lynham also stated: “We have been working closely with the industry on a range of measures to maximise the supply of gas at affordable prices and my department is currently assessing submissions received during consultation on the Queensland Gas Supply and Demand Action Plan discussion paper released late last year.”
Tenders will close on 20 April.
