Galilee Energy has welcomed actions from the Queensland (QLD) and federal governments to focus on gas supply in the Galilee Basin in central west QLD.
This includes applications being open for the $21 million QLD government Frontier Gas Exploration Program in the Galilee and Bowen Basins to accelerate new gas supply.
Galilee Energy executive chairman Ray Shorrocks said the company would make an application prior to the 31 January 2024 deadline.
“The Queensland government identified the Galilee and Bowen Basins as ‘frontier basins’ and a key focus for the development of new gas supply crucial for energy security, including to firm the expansion of renewable energy to be 80 per cent of Queensland’s energy mix by 2035,” he said.
“The Glenaras Gas Project is one of the largest uncontracted gas resources in eastern Australia with an independently certified 3C Contingent Resource of more than 5000 petajoules.”
Shorrocks also welcomed the Future Gas Strategy discussion paper, which identified the basin in its projections for future gas supply.
“The Australian government is to be commended for releasing a Future Gas Strategy on supply and demand for gas,” he said.
Galilee Energy will provide comment on the paper and urge the Australian government to reinstate the strategic Basin approval and work with the QLD government to encourage appraisal of future gas supply.
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