The Queensland Resources Council (QRC) has welcomed the release of the Australian Government’s basin plan for the Cooper and Adavale basins to support Australia’s gas-fired recovery from the COVID-19 pandemic.
QRC Chief Executive Ian Macfarlane said the third basin plan, and the second to have a specific focus on a Queensland region, was a sign of the economic potential of Queensland’s resources to support investment and jobs.
“Queensland’s gas industry powers the East Coast economy, supporting manufacturing and industry jobs from Townsville to Geelong. The gas industry has led to thousands of jobs and supported economic diversity in our regions,” Mr Macfarlane said.
“QRC’s figures show the Queensland gas industry adds $11.1 billion to the Queensland economy and supports more than 51,000 jobs.
“Queensland’s powerhouse gas regions of the Surat, Galilee and Bowen basins have delivered economic returns for all Queenslanders. Investments in new gas projects in the Cooper and Adavale basins can help create new jobs and underwrite Australia’s energy security.
“Resources projects in Queensland are developed according to the highest environmental and regulatory standards, and any new investments will be developed in the same sustainable way.
“The International Energy Agency forecasts that under a range of scenarios for emissions reductions, including net zero pledges, demand for natural gas in the Asia Pacific will increase.
“There are significant economic opportunities for Queensland gas as a transition fuel for nations that are pursuing net zero emissions goals, including in its role working in tandem with renewables to firm up energy supply.
“QRC welcomes the release of this basin plan, following on from the most recent release of the plan for the North Bowen and Galilee basins, as part of a long term road map for the resources sector.
“QRC looks forward to working with the Australian Government on the development of this plan, and with the State Government on the Queensland Resources Industry Development Plan. Both will be important to ensure long term jobs and long term returns for all Queenslanders.”
