COAG gets the ball rolling

Minister for Resources and Northern Australia Matt Canavan.

Minister for Resources and Northern Australia Matt Canavan.

Last week’s meeting of the Council of Australian Government’s (COAG) Energy Council meeting saw a number of policy measures to ensure Australia’s energy supply.

In what is good news for the gas industry, the Federal Government will begin working with states and territories prepared to develop their own gas through the new $26 million Gas Acceleration Program (GAP) to fast track new gas to the east coast market.

“Through the GAP we’re looking to encourage investment in projects that can bring new gas to the east coast market in the next three years,” said Minister for Resources and Northern Australia Matt Canavan.

GAP will offer up to $6 million for each new gas project with substantiated prospects of producing gas into markets within three years, which could include:

  • The application of new technologies or techniques to boost productivity of new or existing wells
  • New gas exploration wells in proximity to existing gas infrastructure
  • New gas processing, storage and transport facilities.

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