Applications are now open for the Australian Government’s $26 million Gas Acceleration Program (GAP), which is designed to accelerate new supplies from onshore gas developments to the domestic market.
Minister for Resources and Northern Australia Matt Canavan said it’s essential that Australia continues to invest in its gas sector to meet the needs of industry and domestic users.
“This program is a significant component of the Australian Government’s $90 million investment in gas security, reliability and affordability,” Minister Canavan said.
“Australia has significant gas reserves that can power our economy and earn export dollars.
“Estimates suggest there could be the equivalent of about 40 years’ worth of gas yet to be developed in Victoria, while the Northern Territory is said to be sitting on more than 200 years’ worth of gas.
“But gas developments are on hold in both of those regions, with Victoria taking the extraordinary step of banning all types of gas extraction – even conventional gas which has powered that state for decades.
“Australia can’t become complacent and other States and Territories can’t just rely on Queensland to bail them out.
“Without an export industry, the Queensland coal seam gas sector wouldn’t have been developed. But Queensland gas is now supplying both the Australian market and the export industry.
“It’s time for other states to follow that lead. Australian jobs and Australian industry rely on our gas sector.
“The Australian Government wants to work with all States and Territories to develop their gas resources.
“The Gas Acceleration Program will provide up to $6 million for each project that demonstrates proven prospects of bringing significant new gas volumes to target markets by mid-2020.
“We have access to the best science to develop these resources. The experience from Queensland shows these resources can be accessed in a way that also balances the needs of agriculture and the environment.
”The application period for the GAP closes 5:00 PM AEDT 13 February 2018. To apply and access more information, visit www.business.gov.au/gap.”