New gas deal signals gas-fired recovery on track
Today’s announcement by Senex Energy Ltd that it has signed a new seven-year deal with Adbri Limited to supply up to 11 petajoules of gas from 2023 shows that gas is going to be required for the long term.
The deal demonstrates that the Coalition Government’s Gas-Fired Recovery is the right policy for Australia.
Minister for Resources and Water Keith Pitt said he welcomed news of the agreement, which will ensure Queensland gas is supplied to the South Australia company who are one of Australia’s leading cement manufacturers.
“I want to congratulate Senex and Adbri on reaching this important long-term deal. It demonstrates confidence from both sides that affordable gas can be developed by producers and that manufacturers continue to have an important place in our economy,” Minister Pitt said.
“Senex and other companies are safely and successfully developing gas resources for Australian households and Australian businesses. We can’t be following the examples of NSW and Victoria where the answer is to bow to activist pressure and just lock up our gas resources.
The Coalition Government is supporting manufacturing and jobs across Australia by fast-tracking the development in new gas basins like the Beetaloo Basin in the Northern Territory or working to unlock known gas resources in the North Bowen and Galilee Basins.
“If states want to lock up their resources, then I encourage industry to move to where the gas is being developed and avoid the red tape, energy uncertainty and transportation costs that accompany knee-jerk and unscientific bans and moratoria like we see in NSW and Victoria,” Minister Pitt said.
“I want to commend Senex and Adbri on settling this gas sale agreement which shows confidence in the ongoing role for gas in our economy and confidence in the future of Australia as a manufacturing nation.”
Media contact: Minister Pitt's office 02 6277 7180