New investment in Queensland gas a sign of confidence
Minister for Resources, Water and Northern Australia Keith Pitt has welcomed today’s announcement by Arrow Energy that it will go ahead with the development of its substantial coal seam gas reserves.
“This is a real vote of confidence in Australia’s gas industry and the energy policy settings that have been established by the Government,” Minister Pitt said.
“It is a welcome shot in the arm for regional businesses especially in the Western Downs region of Queensland.
“Arrow holds the largest undeveloped reserves on the east coast at around 5 trillion cubic feet.
"The Australian Energy Market Operator has highlighted that new gas is going to be required into the east coast market by 2024. Arrow is going to be an important part of delivering that new gas,” Minister Pitt added.
The project is expected to create an initial 200 new construction jobs during its first phase and a further 800 operational and construction jobs over its life.
“Importantly, it will deliver up to 270 terrajoules of gas a day, or around 100 petajoules a year, for both the domestic market and for export with construction to begin this year and the first gas being delivered next year,” Minister Pitt said.
The Government welcomes Arrow’s commitment to work with local farmers and communities as the project develops, including around protecting workers and communities during the COVID-19 pandemic.
“Just as much of eastern Australia is seeing the first green shoots of hope in the agricultural sector as it emerges from drought, the Arrow announcement is a green shoot of confidence that the energy and resources sector will be part of leading our economic bounceback,” Minister Pitt said.
“Notwithstanding COVID-19, our energy and resources will be important in getting not just our economy back on its feet, but vital in assisting our important trading partners to kickstart their economies.”
Media contact: Minister Pitt's office 02 6277 7180