The NSW Government has recognised natural gas will have a strong and ongoing role in delivering affordable energy now and into the future for local industry, businesses and households, APPEA said today.
APPEA Chief Executive Andrew McConville said natural gas will help to reinvigorate regional economies and create jobs as highlighted by the NSW Government’s strategic statement outlining ongoing support for the domestic gas industry.
“APPEA has always said the most affordable natural gas is the gas located close to market,” Mr McConville said.
“The NSW Government has recognised this with consideration of Narrabri as a Special Activation Precinct for the development of gas-intensive industries.
“The recently approved Narrabri Gas Project will deliver natural gas for NSW homes, small businesses, major industries and electricity generators, bringing substantial economic benefits to Narrabri and the surrounding region.
“The project will help to build stronger and more vibrant regional communities through significant community investment. It will also provide energy security and reliability for the state of NSW.
“Industry strongly supports the view that more onshore exploration will deliver more affordable gas to NSW consumers.
“The most effective way to put downward pressure on gas prices for customers, including manufacturers, is to increase supply and competition in the domestic market.”
Mr McConville said to boost supply, there must be an attractive and supportive investment environment underpinned by an appropriate and comprehensive regulatory regime – rather than any further intervention in the gas market.