The Queensland Government has announced plans to release land for gas exploration in the Surat Basin with strict Australia-only sale conditions on gas produced.
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
A small volume of potential gas supplies will be allocated from a pilot exploration project in this area that is rich in coal seam gas (CSG).
Queensland Natural Resources and Mines Minister Dr Anthony Lynham said: “Reliable supply for energy and feedstock is critical to business and industry, and the jobs and revenue they generate.
“Gas is a significant transitional energy source as we head to a renewable energy future.
“Secure energy supplies are growing as a critical factor when businesses make decisions about when and where they invest, expand and create jobs.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe Department of Natural Resources and Mines will release about 58km² of land for gas exploration in south-west Queensland to competitive tender by February this year.
The Surat Basin holds some of Australia’s CSG resources and already supports 4,000 wells producing more than 790 PJ of CSG (2015-1615) for export as LNG from Gladstone.
In order to prevent the gas operator from exporting the gas, the government will use existing legislative powers to place a condition on the tenure.
Recently, 11,000km² was awarded for gas exploration in the Cooper and Eromanga Basins, and 450km² in the Surat and Bowen basins.
Lynham further added: “The major LNG exporters have extensive gas reserves already in place under production tenure, which has underwritten their investment decision.”
Tenure will be granted after the successful tenderer completes environmental and other requirements.
Image: The government will allocate a small volume of potential gas supplies for Australian use only. Photo: courtesy of FreeImages.com / Daniel West.
