Powering Past Gas report a ‘reality check’ for gas exports

Offshore gas drilling rig in the ocean with beautiful pink and blue sunset behind it (merger)
Offshore gas platform (Image: Shutterstock)

A new report says that if Australia stops approving new gas projects there would still be enough supply from existing projects to meet domestic gas needs for more than 60 years.

The Climate Council’s new report, Powering Past Gas: An Energy Strategy that Works, says Australia does not need new gas projects as the world will shortly be awash with cheap gas at the same time as this fossil fuel will play a shrinking role in our domestic energy mix and that of overseas trade partners like Japan.

Related article: Australia’s Future Gas Strategy backs long-term gas drilling

Climate Councillor Greg Bourne said, “More gas means more harmful climate pollution, endangering our homes and the places we love and putting our kids’ futures at risk. It’s time for Australia to power past gas and turbocharge our switch to clean energy.

“Gas has a small, shrinking and short-term role to play in our energy mix. We can already meet much of our energy needs with renewables, like solar and wind. If we stopped exporting so much gas, current projects would be enough to supply our domestic gas needs for more than 60 years.”

Climate Council senior researcher Dr Wesley Morgan highlights the global shifts in energy consumption: “The global energy landscape is rapidly changing. Nations that have traditionally purchased Australian gas, such as Japan, South Korea, and China, are moving to renewables to slash their climate pollution. As we approach 2030 and these countries embrace clean energy, their demand for gas will decline, which means Australian gas expansion is a recipe for economic and environmental chaos.

“Australia must respond to these global shifts or risk being left behind. With new gas projects in the US and Qatar producing massive amounts of new gas, at much lower costs, it’s highly unlikely that new Australian gas projects will be profitable.

Related article: Oil and gas giant Santos just copped a large fine. Here’s why.

“Australia should take control of our own energy and economic future as these global trends accelerate. Now is the moment for Australia to start a sensible phase-out of gas exports as we ramp up the clean alternatives that the Albanese Government has put at the heart of its Future Made in Australia plans.”

The Powering Past Gas report offers a powerful alternative plan to the government’s Future Gas Strategy by advocating for a strategic phase-down of gas exports, accelerated electrification at home and a proper domestic reservation policy that prioritises meeting Australia’s shrinking gas needs first.

Previous articleChina installs world-first 18MW offshore wind turbine
Next articleAGL acquires 20% stake in Kaluza for $150M