Oz Upstream Welcomes Gas-Friendly State Minister

The Australian state of Queensland, home to the country's major coalbed methane to LNG export projects, has a new minister for resources, Scott Stewart.

He told parliament December 3 that the gas industry continued to do “the heavy lifting with gas production, for the domestic and export markets” and “gas is an essential part of Queensland’s economy and will continue to be so in the future.”

His appointment has been welcomed by the country’s upstream industry, the Australian Petroleum Production and Exploration Association (Appea). It said: "The oil and gas industry is fully committed to working with the Queensland government to support the state’s economic recovery and ensure the sector continues to support highly skilled jobs and economic growth, including across regional areas. Oil and gas are a mainstay of Queensland’s economy with companies continuing to invest billions of dollars each year in on-going exploration and development.”

Appea said the gas industry has invested more than A$70 ($51)bn into Queensland’s economy and the sector makes a significant contribution to the state including through petroleum royalties – which are forecast to increase to more than A$2bn over the forward estimates – to help build schools, roads and hospitals.

It said the government’s plans to invest A$5mn in pipeline infrastructure to secure new gas reserves in the resource-rich Bowen Basin and the A$3.3mn Strategic Resources Exploration Program will help to unlock more supply.

“The Queensland government’s ongoing releases of acreage for exploration and development are essential to building wealth, economic resilience and whole-of-economy gains for Queensland and the national economy,” it said.