Woodside Energy, the operator of the North West Shelf plant and Pluto LNG in Western Australia and still considering a merger with Australia’s Santos, said it welcomed an opportunity offered to contribute to the Australian Government’s development of a future gas strategy.
The Perth-based company said that with more than 200 submissions made to a consultation process undertaken by the Australian Department of Industry, Science and Resources (DISR), there was a growing recognition of the “pivotal role of gas” at a time when access to secure, affordable and reliable energy supply is becoming increasingly challenging.
“As many submissions identified, gas will play a key role in a responsible energy transition,” said Woodside.
“This was acknowledged by local and state governments, manufacturers, regional customers, power generators, think tanks and policy experts, business and industry groups and unions,” the company added.
Woodside explained that it supported the main objectives of the government strategy and saw them as interrelated goals.
Objectives
The objectives are: providing affordable and reliable energy for Australians; maintaining strategic partnerships and energy security in the region; and simultaneously progressing decarbonisation of trading partners and decarbonisation in Australia.
“Australia has the natural resources to support both the renewable and non-renewable energy developments which will be needed as populations increase and energy consumption rises,” explained Woodside.
“These natural endowments provide Australia with an opportunity to be a regional and global leader in the energy transition,” it added.
However, Woodside said that to achieve these goals the country needed policy settings that would embrace the opportunities presented by a strong Australian gas industry.
“The industry needs fiscal and regulatory stability if it is to continue to take investment risks and develop Australia’s resources,” Woodside declared.
“Government must also provide certainty to workers and businesses, including the Australian manufacturing sector, on the medium-term and long-term role of gas so they can make decisions and invest with confidence,” said the company.
Woodside added that its submission had put forward “practical and constructive” short-term and medium-term recommendations that address issues impacting the gas industry.
“These include improving the regulatory framework to ensure approvals are provided in a timely manner and with certainty. In this respect, it is encouraging that the Commonwealth and the Western Australian State governments are working to ensure there is clarity for all parties around the consultation requirements for offshore developments,” Woodside said.
