On behalf of Australia’s oil and gas industry, the Australian Energy Producers (AEP) have congratulated Prime Minister Anthony Albanese on Federal Labor’s re-election and called for priority action to address projected gas shortfalls.
AEP said the industry looks forward to continuing to work with the Government on necessary reforms for Australia’s long-term energy security and economic growth.
Samantha McCulloch, AEP chief executive, said the decisive election result provided an opportunity for energy policy certainty and stability in the next term of Parliament.
“Australia and our region’s economic growth and energy security needs reliable and affordable gas supply, which requires continued investment in new gas exploration and development,” McCulloch said.
“We look forward to working with the Albanese Government on advancing the shared goal of boosting Australian gas supply to ensure reliable and affordable energy for Australian homes and businesses, as outlined in the Future Gas Strategy and AEP’s election policy platform.”
McCulloch said the Government needs to prioritise implementing actions from the Future Gas Strategy and address the regulatory delays and uncertainty in the environmental approvals system.
“Australia has abundant gas resources, yet we face gas shortfalls this decade due to regulatory uncertainty, approval delays and policy interventions that have delayed new gas supply and damaged Australia’s investment competitiveness. Addressing these risks must be a priority for the new Parliament.”
McCulloch also thanked Opposition Leader Peter Dutton and the Coalition for their support for the sector and urged the Government and Opposition to work constructively on enduring energy policy reforms that recognise the critical long-term role of gas in Australia’s energy mix.
AEP’s election policy platform outlined key actions to unlock the economic, energy security and emissions reduction potential of Australia’s gas sector:
- Boost Australian gas supply to ease cost of living pressures
- Restore Australia’s global competitiveness for investment
- Deliver real emissions reductions with gas and carbon capture, utilisation and storage (CCUS)
- Remain a reliable energy partner in our region
McCulloch said the election also showed Australians do not support the Greens’ policies, including a ban on new gas projects, which she said would put Australia’s energy security at risk and drive-up energy costs.
“With cost-of-living top of mind for voters, the Greens cannot be allowed to continue to hold legislation to ransom in the Senate,” McCulloch said.
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