MEDIA RELEASE

9 April 2013

The Greens NSW spokesperson on mining Jeremy Buckingham said today that key resource and energy ministers, as well as representatives of the gas industry, must address the question of an East Coast domestic gas reservation policy at the ‘Australian Domestic Gas Outlook 2013’ conference held in Sydney 10 – 12 April.

Dish Texas gas wells from above

“The East Coast is facing a massive market failure when it comes to domestic gas supply and governments must step in with sensible regulations such as a domestic gas reservation policy to ensure continued supply for industrial and residential gas customers,” said Greens MP Jeremy Buckingham.

“The three LNG export terminals being built in Gladstone, Queensland, will act like a vacuum, sucking up all available gas for export to Asian markets with significant effects on the availability and price of gas to domestic customers and consequential effects on economic activity and jobs.

“Unrestricted exports without any gas reservation policy will see the market fail domestic gas users. The sensible answer is for state and federal governments to implement a gas reservation policy to ensure Australian gas is available for Australian use – it is in the national interest.

“NSW Resources and Energy Minister Chris Hartcher, as well as federal Coalition resources spokesperson Ian Macfarlane, and the various gas industry CEOs attending the conference should state their positions on domestic reservation policy

“The Greens do not want to see an export induced gas squeeze become an excuse to let coal seam gas rip in NSW to the detriment of farmers, the environment and our precious water resources.

“No other gas export country allows unrestricted exports without reserving gas for domestic use. Australian governments need to look at developing a domestic gas reservation policy to ensure gas is available for domestic customers, as we make the transition to renewable energy sources.

“Governments have been sitting on their hands while we head towards a crunch in the East Coast gas market created solely by these LNG export terminals.”

Contact: Max Phillips - 9230 2202 or 0419 444 916