The Australian Energy Producers said the release of the Australian Government’s offshore regulation consultation paper has initiated a crucial process to address uncertainty and complexity in the national offshore regulatory approvals system.
The Australian Government’s consultation paper underscores the urgent need for regulations ensuring economic and energy security for Australia and its international partners.
The paper emphasises the need for a swift resolution to the issue of delayed gas supply, which results from repeated forecasts from Australian energy market authorities.
Australian Energy Producers Chief Executive Samantha McCulloch said immediate measures are required to address nearly two years of regulatory uncertainty, jeopardising the country’s and its international trade partners’ energy security.
“Timely and robust environmental approvals are critical for all energy projects to support Australia’s energy security and the net zero transformation,” McCulloch stated.
According to her, regulations should ensure industry clarity and certainty, while fostering 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,” she noted.
McCulloch said the paper is a significant step towards developing new gas supply for Australian households and businesses, ensuring reliable and affordable energy.
She explained that the tens of billions of dollars in economic benefits and jobs provided by gas exports to Australia are also at stake.
“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 stated.
She added that Australia’s geopolitical instability and rising living costs have highlighted the importance of dependable, affordable, and lower-carbon energy sources like gas.
“We look forward to working with the government to progress a solution that provides the clarity and certainty required for industry and stakeholders.”
