With more than 200 submissions made to the Australian Department of Industry, Science and Resources (DISR)’s consultation process, Woodside acknowledges that there is a growing recognition of the pivotal role of gas at a time when access to secure, affordable and reliable energy supply is becoming increasingly challenged.
Many submissions have already identified that gas will play a key role in a responsible energy transition.
Natural gas emits less carbon than most other fossil fuels, has a limited role as a transition fuel from coal to renewable energy sources and may still be needed as back-up for variable wind and solar power.
This was also acknowledged by local and state governments, manufacturers, regional customers, power generators, think tanks and policy experts, business and industry groups, and unions.
The Future Gas Strategy aims to:
- support decarbonisation, including reaching Australia’s target of 43 per cent reduction in emissions below 2005 levels by 2030 and net zero by 2050
- promote Australia’s energy security and affordability
- maintain Australia’s trade relationships, ensuring we remain a reliable and trusted supplier of Liquified Natural Gas (LNG) to our region to our region and build our clean energy exports
- help Australia’s trade partners on their own paths to net zero.
Woodside stated that the company supports all four objectives of the Strategy and sees them as interrelated goals.
The company also believes that Australia has the natural resources to support both the renewable and non-renewable energy developments, which will be needed as populations increase and energy consumption rises.
Woodside stated that the government must also provide certainty to workers and businesses, including the Australian manufacturingsector, on the medium and long-term role of gas so they can make decisions and invest with confidence.
These includes improving the regulatory framework to ensure approvals are provided in a timely manner and with certainty.
In addition to the importance of gas domestically, governments must send a strong signal to regional energy partners that Australia is open for business.
Woodside has recommended the appointment of an Energy Envoy for Australia who can support existing engagement with trading partners and reinforce Australia’s ongoing efforts to maintain regional energy security while reducing emissions.
Woodside’s full submission can be viewed online.
