The Australian Petroleum Production & Exploration Association (APPEA) has welcomed the announcement of Western Australia’s (WA) new government, following the appointment of Premier Roger Cook.
APPEA WA director Caroline Cherry said that Australia’s oil and gas industry looks forward to working with the new government to strengthen the state’s economy and transformation to net zero.
“The oil and gas industry congratulates Roger Cook on becoming Premier and looks forward to working with him and his new team to create a stronger WA economy,” she said
“Mr Cook has a strong understanding of the importance of business to the economy, particularly the gas industry’s role securing reliable and affordable domestic energy supply and boosting the energy security of trade partners in the region with LNG exports.
“While our sector delivered around $1.4 billion to the recent state Budget, helping the government fund services and infrastructure like roads, schools and hospitals, our role powering major industries including mining and manufacturing also helps deliver further substantial economic benefits.”
Cherry also welcomed and congratulated the expansion of the portfolio of mines and petroleum and energy minister Bill Johnston to also include the hydrogen industry.
She said Johnston understands the gas industry and its priorities due to already working on carbon capture legislation, a technology important to hydrogen production in a cleaner energy future and critical to emissions reductions across different industries.
“Over a quarter of hydrogen in 2050 will come from natural gas utilising CCUS, according to the International Energy Agency’s Net Zero by 2050 scenario,” she said.
The news follows APPEA welcoming the recent Queensland Budget as it recognised the resources sector “a traditional driver of investment, economic growth and jobs”.
The Budget papers revealed revenue from the gas sector will reach a total $7.011 billion in the five years to 2026-27 – up from $5.9 billion last year.
“Seven billion dollars from the Queensland oil and gas industry is helping fund important public services and infrastructure like new hospitals and schools for the state’s growing population,” APPEA chief executive Samantha McCulloch said.
“It’s important to remember that a decade ago Queensland didn’t have a specific line in its Budget papers for petroleum royalties. Now it’s worth a new public hospital every year.”
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