The Queensland oil and gas industry has congratulated State Premier David Crisafulli on his LNP Government’s election victory and expressed eagerness to collaborate on the sector’s strategic plan for economic and energy.
According to the Australian Energy Producers, the gas sector plays a significant role in Queensland’s economy, contributing around $1.4 billion annually in government revenue and supporting 67,600 jobs.
In the 2023-24 financial year alone, the industry spent $3.9 billion across 3,477 businesses within Queensland, predominantly in regional areas.
Australian Energy Producers, representing the industry, has committed to working with the incoming Premier and government to fully realise the potential of Queensland’s gas sector.
Keld Knudsen, Queensland Director of Australian Energy Producers, said a new term offers an opportunity to support investment in natural gas needed for long-term economic and employment growth.
“At a time when cost-of-living pressures are front of mind, the oil and gas industry look forward to working with the incoming government to ensure reliable and affordable energy for Australia and our region,” he said.
“The natural gas industry continues to be one of the state’s great success stories, supporting more than 67,000 Queensland jobs and delivering billions of dollars to the state budget to fund schools, hospitals and essential services.”
The industry group’s plan focuses on five key policy actions for the LNP government to unlock the sector’s benefits, especially in regional Queensland: leveraging natural gas to reduce energy prices, improving regulatory efficiency, protecting the environment while delivering economic advantages, supporting stable fiscal and royalty policies, and incentivising low-emissions technologies.
Knudsen said that prioritising these actions would drive investment in new gas supply, realising Queensland’s full potential for economic growth, job creation, and energy security.
The strategic plan builds on a recent report highlighting the gas sector’s economic impact, with over $80 billion spent across businesses in the state between 2011 and 2023.
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