Esso joint venture project welcomed

Minister for Resources and Water Keith Pitt has welcomed the major joint venture investment announcement by Esso to expand gas supply from the Gippsland Basin offshore Victoria.

Minister Pitt said the $400 million investment is a significant vote of confidence in the Australian gas sector and builds on a strong pipeline of projects at a critical time.

“The recent ACCC report highlighted the need for new projects to meet demand for gas during peak days during winter and this project in the Gippsland Basin will help to fill that need,” Minister Pitt said.

“The development will deliver an estimated 200 petajoules of gas between 2023 and 2027 into the east coast market, contributing to our national energy security.

“The investment represents a vote of confidence in the industry’s future as the Coalition Government delivers policies to support Australia’s gas-led recovery,” Minister Pitt said.

“Esso’s joint venture will provide the increased supply that will be welcomed by Victorian households and manufacturers dependent on gas.

“As energy security becomes a significant concern in many developed counties throughout Europe, it’s time for the Victorian Government to support the gas sector and encourage new exploration and development for the benefit of all Victorians.”

Media contact: Minister Pitt's office 02 6277 7180