Oz State Lifts Gas Moratorium
The state of Victoria in Australia passed June 16 the Petroleum Legislation Amendment Bill 2020, "setting the scene for a resumption of onshore gas exploration in the state," said upstream industry group Australian Petroleum Production & Exploration Association (Appea). It said the lifting of the moratorium in 12 months' time "should lead to more gas supply flowing to Victoria’s homes and businesses."
The Australian Energy Market Operator has forecast shortfalls in Victorian gas supply as soon as 2024 if more supply is not developed. Shortages could happen earlier if winter demand is high, said Appea.
“The comprehensive scientific research undertaken by the Victorian Gas Program assessed the risks, benefits and impacts associated with onshore conventional gas. It confirms what other inquiries and industry itself has been demonstrating for decades – natural gas production is safe and sustainable,” Appea CEO Andrew McConville said.
“Thousands of manufacturing jobs in the state also rely on a stable supply of gas. This legislation should give some comfort that Victoria’s manufacturing base, and the local jobs it generates, should continue to have a source of viable supplies of domestically produced gas for years to come," he said.