Australia allocates another A$59mn for gas sector
The Australian government will allocate another A$58.6mn ($45.5mn) to its ‘gas-fired recovery’ measures, energy minister Angus Taylor said on May 7.
The government will allocate A$38.7mn for targeted support of gas infrastructure projects, A$3.5mn to design and implement the Future Gas Infrastructure Investment Framework to support the consideration of medium to long-term critical gas projects identified by future National Gas Infrastructure Plans (NGIP).
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The government will also spend A$5.6mn strengtheninh its energy system planning framework by delivering a further NGIP in 2022. Another A$4.6mn will be allocated to initiatives that empower gas-reliant businesses to negotiate competitive contract outcomes, including developing a voluntary standardised contract framework, the government said.
Canberra will allocate A$6.2mn to continue work to accelerate the development of the Wallumbilla Gas Supply Hub in Queensland.
The government has also released an interim NGIP which focuses on the gas supply shortfall forecast for this decade. The interim plan provides a blueprint of infrastructure requirements for Australia’s east coast gas market to 2027 and identifies four critical infrastructure projects that are required to avert the shortfall, the government said.
While announcing the ‘gas-fired recovery’ measures last September, Australian prime minister Scott Morrison said that gas would help re-establish a strong economy as part of his government’s JobMaker plan.