“Projections from the Australian Energy Market Operator (AEMO) which suggest previously forecast gas shortages are less likely through to 2019 are no excuse to go slow on exploration and development of new supplies,” BCA Chief Executive Jennifer Westacott said.
“The main reason for the changed forecast cited by the AEMO is a decline in gas demand due to high prices and reduced industry activity.
“New sources of gas, especially on the east coast, will allow consumers and businesses to save on their gas bills, and give manufacturers greater access to cost effective lower emission fuels.
“Taking a ‘wait and see’ approach until 2019 will not provide the pathway for long term investment in this critical energy source.
“We should not be anticipating and accepting decreasing industry activity. Rather, we should work to increase gas supplies to ensure Australian businesses and households can access a reliable and competitively priced supply of gas into the future,” Ms Westacott said.
For further information contact:
Scott Thompson, Director, Media and Public Affairs
Business Council of Australia
Telephone (03) 8664 2664 • Mobile 0403 241 128