New South Wales Extends CSG Licence Buyback Scheme

Australian state of New South Wales has extended Petroleum Exploration Licence (PEL) buy-back scheme, under the NSW Gas Plan for another three months, Minister for Industry, Resources and Energy, Anthony Roberts, today said Wednesday.

Roberts said the buy-back scheme has so far seen 12 PELs cancelled that covered more than 2,941,081 hectares of NSW.

“We have extended the scheme due to the ongoing interest of titleholders,” he said. “We understand a buy-back is a significant decision for titleholders, which is why we have extended the scheme.

Roberts said his government is resetting the regulation of the industry on its term.

The NSW Gas Plan has reduced the footprint of CSG across the state from more than 60 per cent to just 11 per cent, he added.