QLD TREASURER IS RIGHT: LABOR’S RESERVATION MUST BE EVIDENCE BASED

The Coalition has been clear: we will not support a gas reservation policy that is not evidence-based or backed by research demonstrating it will deliver more gas and more investment, not less.

Queensland, as the major gas producing State on the East Coast, has a right to know whether Labor’s current proposal will negatively impact their State. 

Queensland has done the right thing by unlocking and investing in their domestic gas industry for over a decade, and this has built a strong and stable domestic and LNG export industry which supports Australia’s energy grid, defends Australia’s geostrategic position, pays billions in royalties and taxes to the State and Federal Governments, and employs thousands of Queenslanders.

One of the Coalition’s key criteria by which we are approaching Labor’s reservation is that “any reservation must have demonstrated research from Government agencies.”

This criteria remains: any proposal from the Labor Government must demonstrate that it will not reduce gas investment and supply, which will only lead to higher prices for Australians. 

The Queensland Government’s request is sensible, and will provide the opportunity for independent experts to provide advice on whether Labor’s reservation fulfills this requirement. 

The only sustainable way to put downward pressure on gas prices is to ensure there is more gas supply and that means encouraging investment and getting new projects moving.

The Coalition stands ready to deliver a responsible, viable domestic gas reservation that meets these criteria, and above all, secures more Australian gas for Australians.

Only the Coalition has the strong leadership, strong team, and strong plan to unlock more Australian gas, deliver cheaper power, and put Australians first. 

ENDS