The Australian Government has released a discussion paper and launched public consultations on a national Future Gas Strategy.
Minister for Resources and Northern Australia Madeleine King said the gas policy settings in Australia were critical for Australia’s energy security, business and industry, the environment, and local economies.
According to Minister King, the Future Gas Strategy, introduced in the May Budget, would assist the government, industry, and households in making decisions regarding the future role of gas.
“The Future Gas Strategy will ensure Australia has the long-term policy clarity needed to support decision across communities, industry and governments,” Minister King stated.
“The role of gas will change as the world decarbonises — both in Australia’s energy mix and in the energy use of our trading partners,” she added.
Minister King stated that gas was critical to modern supply chains that linked Australia in complicated ways with trade and investment partners, generating crucial goods, services, and jobs both at home and abroad.
“We need to ensure gas demand decreases faster than supply through the energy transition,” Minister King said.
She noted that among the effects of reducing supply faster than demand are gas shortages, supply disruptions, and high prices.
“These consequences disproportionately impact those who can least afford them, worsening poverty and inequality,” she added.
Minister King stated that extensive consultations with industry, international trade and investment partners, and the Australian public would inform the Future Gas Strategy.
The strategy is expected to be finalised next year.
The discussion paper is available here.
