Australia’s gas sector has called on Victoria and NSW to lift their effective moratoriums on new projects, and has urged the federal government to commit to a carbon capture and storage strategy.
to cap the price of gas for a year at $12 a gigajoule, saying it has scared off investors in new projects.The government also gave itself powers to permanently regulate gas prices under a mandatory code of conduct, which will soon enter its consultation phase.
In its budget submission, APPEA urges the government to “let the market work to unlock new gas supply and drive down energy prices across Australia”. The NSW government, which goes to the polls on March 25, has been dragging is heels for years in approving the Narrabri gas field due to political sensitivities.
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