QRC backs Gas Pilot Project

The Queensland Resources Council (QRC) supports the state government’s release of land in the Surat Basin for gas exploration.

QRC’s Chief Executive Ian Macfarlane said the pilot exploration project announced today will see the gas produced with an Australia-only sale condition.
“The gas produced will only be sold domestically that will help secure a reliable and affordable supply of gas to business and industry,” Mr Macfarlane said.
“It’s common knowledge the eastern seaboard of Australia is facing a gas shortage and instead of putting their head in the sand the government is opening up 58 square kilometers of land for exploration. Once again Queensland is leading the way in securing the energy security of Australia. The proactive release of new tenure conditioned for domestic market is an innovative response by the Queensland government to the lack of political back-bone shown by the governments of NSW and Victoria. The pilot should also be seen as chance to demonstrate best-practice regulations in action – fast, effective and focussed on outcomes. The Queensland government has set an aspirational goal of 50 percent renewables by 2030 and to achieve this goal will require a lot more gas if we are to keeping the lights on and protect Queensland jobs in manufacturing and energy intensive export industries.”

Source: QRC


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Queensland's Exploration Plan provides Certainty and clear Vision for Explorers

Queensland’s peak resources sector body has welcomed news of more consistency in the release of land for exploration by the Queensland Government. Minister for State Development and Natural Resources and Mines Dr Anthony Lynham released the first annual exploration program, which sets out 826 square kilometres of land to be made available through competitive tender for minerals, coal, and petroleum and gas exploration over the next 12 months.


Resources punching above their Weight

It comes as no surprise today that Queensland Treasurer Curtis Pitt has announced a $2.7 billion royalty write-down ahead of next week’s budget, despite record-level coal exports and a strong ramp in LNG exports.

While Queensland continues to set records in the volume of resource commodities we export, our commodity prices have remained stubbornly low. In retrospect, it is clear that the commodity price forecasts in last year’s budget and mid-year review were far too bullish.


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