More land released for exploration in Queensland

east coast, natural gas, gas investment, gas retailer
Image: Bruce Peebles

More than 44,000 square kilometres of land for exploration has been released by the Queensland Government to unlock the next round of resource projects.

Speaking at the Energy, Mines and Money Conference in Brisbane last week, Queensland Minister for Natural Resources, Mines and Energy Dr Anthony Lynham said the state government was offering 43,250sq km for investors looking to invest in petroleum and gas exploration.

“This is made up of 29 areas, which is more than double the previous release, to help ensure future energy security as we transition to a renewable energy future,” Dr Lynham said.

“For coal explorers, we are releasing 10 areas covering 1140sq km of land in the Bowen and Eromanga basins.

“Nine of these areas are in the Bowen Basin, which contains almost all of the state’s metallurgical coal reserves.

“Metallurgical coal is critical to building our renewables future as it is one of the key elements for making the materials for our wind turbines, solar farms and electric cars.

“This is land which has proven reserves and is supported by existing pipeline and transport infrastructure.”

Dr Lynham said it was the largest amount of land released under the state’s exploration program.

“Queensland’s resources industry is currently worth close to $60 billion and this land release supports the building of the next pipeline of resource projects,” Dr Lynham said.

“It is no coincidence investors from all over the globe are in Brisbane as they want to be part of the booming Queensland resource industry.

“These investors collectively have more than $750 trillion in funds under management and a diverse range of mines and energy companies are here with a market cap of more than $220 billion.”