Business

Saving export gas for local market won't lower prices

RESTRICTING billions of dollars of LNG exports in favour of a domestic gas reservation policy will not lead to lower natural gas prices or increase gas supply, the Australian Petroleum Production and Exploration Association says.

Responding to a survey released last week by Manfuacturing Australia that showed most Australians wanted a policy of domestic gas reservation, the APPEA said more than $60 billion worth of natural gas projects in Queensland alone - which employed about 30,000 people - would need to be dramatically altered to adhere to such a proposal.

APPEA chief executive David Byers said east coast gas prices were rising in response to increasing costs of supply and market conditions, and any move to cut back on exports was not the right solution.

"Australia benefits when we export goods at market prices. That's not just true for gas, it's true for wine, wool, wheat and cotton," Mr Byers said.

"To claim Australia's gas prices are amongst the highest in the world is demonstrably untrue.

"The most recent quarterly report from independent energy analysts EnergyQuest shows that east coast gas prices in the June quarter 2013 were $3.44 to $6.13 per gigajoule of natural gas compared to an average price in Japan of $15.62/GJ.

"Australia is in the middle of the pack for gas prices. Claims we have the highest gas prices in the world are completely inaccurate.

"The best solution to higher gas prices is the production of more gas - not the introduction of new regulation. Such a policy would actually reduce the very investment needed to bring on new supplies."

Mr Byers said asking expanding industries to underwrite those that were struggling only served to reduce the benefits that flowed to the community via increased employment, taxation payments and economic opportunity.

"It should be seen for what it is - a return to the protectionist sentiment that bedeviled Australia until the 1980s," he said.

Manufacturing Australia chairman Sue Morphet last week said unrestricted gas exports would lead to gas price hikes for businesses and households, as well as putting at risk almost 200,000 manufacturing-reliant jobs.

"Australians will be forced to pay one of the world's highest gas prices, despite having one of the world's largest supplies," she said.

Manufacturing Australia recently launched its Gas for Jobs campaign to highlight the impact it says unrestricted gas exports would have on the Australian manufacturing sector and households. 

Topics:  appea, csg, curtis island, gas, lng



Gladstone coaches, teams, helped Welch make it to Storm

John, Brendan, Christian and Terry Welch after Melbourne Storm won last week.

Welch credits his Gladstone coaches, teams for his success.

Snake catchers offer free info session after near-fatal taipan bite

HOOKED: Lachlan Gilding and Max Jackson will promote snake safety to Agnes Water next week.

A free snake awareness session at Agnes Water this Monday.

Lessons shared one tribe to another

LESSONS SHARED: PCCC's Michael Eggmolesse, Greg Blackman, Kitselas council's Roxanne Ridle, Cherissma Blackman, Kitselas Debbie Moore, Kitselas land and resources council staff member Noel Argueta, Nat Minniecon, Richard Johnson and Naomi Johnson.

Impact on cultural heritage, jobs for Indigenous with three projects

Local Partners

Marvel's Luke Cage S1E6: Suckas Need Bodyguards review

Rosario Dawson and Mike Colter in a scene from the TV series Marvel's Luke Cage. Supplied by Netflix.

*WARNING: spoilers if you haven't seen Marvel's Luke Cage*

Marvel's Luke Cage S1E5: Just To Get A Rep review

Mahershala Ali, centre, in a scene from the TV series Marvel's Luke Cage. Supplied by Netflix.

*WARNING: spoilers if you haven't seen Marvel's Luke Cage*

Marvel's Luke Cage S1E4: Step In The Arena review

Mike Colter in a scene from the TV series Marvel's Luke Cage. Supplied by Netflix.

*WARNING: spoilers if you haven't seen Marvel's Luke Cage*

Rob Kardashian admits his first crush was his sister Kim

Rob Kardashian once had a crush on his sister Kim Kardashian West.

Marvel's Luke Cage S1E3: Who's Gonna Take The Weight

Mahershala Ali in a scene from the TV series Marvel's Luke Cage. Supplied by Netflix.

*WARNING: spoilers if you haven't seen Marvel's Luke Cage*

Marvel's Luke Cage S1E2: Code of the Streets review

Simone Missick and Mike Colter in a scene from the TV series Marvel's Luke Cage. Supplied by Netflix.

*WARNING: spoilers if you haven't seen Marvel's Luke Cage*

Beach-side real estate starts at $85k on Fraser Coast

HERVEY BAY REAL ESTATE: You can buy this townhouse in Scarness for under $300k.

Live your beach-living dream locally.

$40million hotel, shops development project for Mackay

Mt Pleasant hotel and retirement accommodation, proposed at 194-202 Malcomson St.

$40m development to take Mackay to 'the next level'

'Flex muscles': Gladstone suburb drops $120K

BUYERS are scooping unprecedented deals by “flexing their muscles at the table”

Few bright lights for property after mining downturn

The Gladstone Regional Council wants associated LNG companies like Bechtel to be apart of the EIS housing accommodation strategy from the outset of the projects and not mid-way through.

Tannum Sands continues to write its own property success story

Property 200m from ocean selling for just over $100K

BEACHCOMBER PARK: Work has started on a new $19.2 million development at Toogoom.

The estate's developer is offering huge discounts for early buyers.

UPDATE: Former rodeo champ's sale rained out, now back on

Larkhill local Ken Consiglio is having an auction of most of the things on his property.

'People kept showing up and we had to turn them away'