Australia’s abundance of natural resources has contributed to the modern economy we enjoy today. Resources have underpinned the development of regions and cities, providing energy and materials that improve lives here and around the world.
Today, Australian mineral and energy resources are our largest export and vital to our prosperity. The sector creates jobs across regional Australia and provide opportunities for business both small and large. The royalties and taxes paid by the asector provide for roads, schools and hospitals across the nation. Our resources sector and exports underpin our continued economic growth, and have supported the economy and employment during the global pandemic.
The Australian Government’s Gas-Fired Recovery agenda will drive new economic opportunities off the back of Australia’s abundant natural gas resources. The agenda will unlock new gas supply, drive more efficient gas transportation and empower gas consumers. In conjunction, these actions will improve affordability for households and Australian businesses and provide energy security.
The government’s strategic basin plans are a key to this agenda. Unlocking our rich gas potential in strategically important locations will buttress existing gas production and provide more supply and more suppliers for the domestic market. The North Bowen and Galilee basins have the potential to open up a range of economic opportunities across Queensland in areas like Townsville, Mackay, Bowen and Gladstone.
Unlocking gas resources in these basins can:
- create and sustain high-quality, high-paying resources sector jobs in local communities and
- ensure that the future gas needs of households and businesses in the region are met.
To make this plan a reality, the government is investing $20.7 million to crack the gas potential in the North Bowen and Galilee region. Our staged approach will help industry and government to make informed decisions about next steps. The plan will leverage over $400 million in research and critical infrastructure upgrades which will support local businesses and communities.
The North Bowen and Galilee Strategic Basin Plan is a partnership between all levels of government, scientific organisations, the private sector, and local communities. Together with Australian experts and global investors, this plan will support our resources industry to grow bigger and better.
I look forward to creating opportunities for Queenslanders and all Australians.