Gas sup­ply boost

The Australian Energy Review - - NEWS - EL­IZ­A­BETH FABRI

THE Fed­eral Gov­ern­ment has handed out $24 mil­lion in fund­ing to fast track the de­vel­op­ment of four gas projects, as part of its Gas Ac­cel­er­a­tion Pro­gram (GAP). The fund­ing will en­able an ad­di­tional 12.4 peta­joules of gas to be sup­plied to the East Coast gas mar­ket by 30 June 2020, and an extra 27.6 peta­joules over five years. Each project re­ceived a $6 mil­lion grant to­wards their re­spec­tive de­vel­op­ments, in­clud­ing Ar­mour En­ergy to put to­wards drilling three ad­di­tional pro­duc­tion wells at its Kin­cora gas plant in QLD; West­side Cor­po­ra­tion to put to­wards the drilling of 10 ad­di­tional sin­gle lat­eral wells at its Greater Merid­ian project in QLD; Beach En­ergy’s new Kat­nook Gas Pro­cess­ing Fa­cil­ity in South Aus­tralia; and Tri-star Fair­fields’ four new wells west of Rolle­ston, QLD. Fed­eral Re­sources min­is­ter Matt Cana­van said the extra sup­ply would help safe­guard Aus­tralia’s fu­ture gas se­cu­rity. “While Aus­tralian Gov­ern­ment mea­sures like the Aus­tralian Do­mes­tic Gas Se­cu­rity Mech­a­nism and the Prime Min­is­ter’s agree­ment with LNG ex­porters in Oc­to­ber 2017 have helped to ad­dress do­mes­tic gas sup­ply in the short term, the only way to pro­vide gas se­cu­rity into the fu­ture is by in­creas­ing the sup­ply of gas through in­creased de­vel­op­ment,” Mr Cana­van said. “The GAP is fast track­ing projects with the best prospects of bring­ing sig­nif­i­cant new gas vol­umes to tar­get mar­kets by mid-2020.”

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