Australia’s LNG Industry Warns Policy Uncertainty Is Hurting Investment
Key takeaways
- Australia s energy producers are calling for state and federal support in faster approvals of new projects and fiscal stability.
- Producers want long-term predictability in taxation, as well as faster permitting processes and environmental reviews from the state and federal governments.
- Related: Oil Prices Rise as Iran Tempers U.S.
Australia s energy producers are calling for state and federal support in faster approvals of new projects and fiscal stability. These could help the world s third-biggest LNG exporter grow its overseas markets amid the expected years-long turmoil in the global gas market in the wake of the Iran war.
Producers want long-term predictability in taxation, as well as faster permitting processes and environmental reviews from the state and federal governments. As a whole, the industry seeks clarity and certainty that would incentivize producers to invest in new supply to meet growing demand for gas in Australia and the region, which Australia is ideally positioned to serve—Asia s growing gas and LNG markets.
The current global LNG crisis, created by the loss of Qatar s LNG supply due to the closed Strait of Hormuz and Iranian missile attacks on Qatari LNG infrastructure, is an opportunity for Australia to bolster its position as a reliable supplier, industry executives said at the Australian Energy Producers annual Conference and Exhibition this week.