Australian Energy Producers (AEP) has stated the Australian government’s offshore regulation consultation paper highlights the need for regulations that provide economic and energy security for Australia.
The oil and gas industry’s peak body noted the paper stared a process to address uncertainty and complexity with the national offshore regulatory approvals system.
AEP chief executive Samantha McCulloch said urgent reforms were needed to address regulatory uncertainty.
“Timely and robust environmental approvals are critical for all energy projects to support Australia’s energy security and the net zero transformation,” she said.
“Regulations must provide clarity and certainty for industry, while maintaining comprehensive and meaningful consultation with Traditional Owners and stakeholders.
“We have been calling for the federal government to fast-track a solution to this broken offshore environmental approval system for months.”
McCulloch also said the economic benefits gas exports deliver for Australia were also at risk.
“We need the right policy and regulatory settings to underpin these major investments and ensure our industry can continue to deliver for Australia and the region,” she said.
“Reliable, affordable and lower-carbon energy, such as gas, has never been more important to Australia in these times of geopolitical upheaval and cost of living pressures.
“We look forward to working with the government to progress a solution that provides the clarity and certainty required for industry and stakeholders.”