Commonwealth announces offshore gas study
The Australian Government will complete a study into offshore gas basins in southern Australia, part of its $90 million commitment in domestic gas.
Minister for Resources and Northern Australia Senator Matt Canavan said the study of the Gippsland, Otway, Bass and Sorell Basins would look into the prospects for future supplies of gas to supply the South East Australia domestic gas market.
“Australian jobs and Australian industry have been built up around the plentiful supply of affordable and reliable gas on the East Coast,” said Minister Canavan.
“But the original reserves that have powered our economy can’t last forever.
“To ensure Australia continues to make the most of our vast gas resources, it’s essential that we support ongoing exploration and development.”
The Australian Government will work with the Victorian and Tasmanian Governments on the Offshore South East Australia Future Gas Supply Study. The National Offshore Petroleum Titles Administrator (NOPTA) and Geoscience Australia will provide expert advice.
The study will focus on developing a better understanding of the volumes of gas available in this highly productive area, and will also seek to identify opportunities to maximise sustainable gas recovery.
The objectives of the study are to provide an understanding of the volumes of gas available within the Offshore South East Australian Basins for potential future input into the east coast domestic gas market and identify short and long term opportunities to maximise sustainable gas recovery from the Offshore South East Australian Basins.