A NSW Government report tabled in Parliament says that without the development of new gas resources the state remains vulnerable to increasing electricity prices.
The Australian Petroleum Production & Exploration Association (APPEA) welcomed the “The Economics of Energy Generation” report released by NSW Parliament’s Public Accounts Committee. The report says coal seam gas is the potential new source of energy that has the capacity to transform the industry and improve the state’s energy security.
Report highlights include:
APPEA Chief Operating Officer Eastern Region, Rick Wilkinson said: “The release of this report highlights the importance of gas production to the future of NSW.
“If there is to be downward pressure on rising electricity prices then sourcing natural gas from coal seams could be the game-changer.
“Not only will we see the creation of thousands of jobs, as has happened in Queensland, but regional economies will also be revitalised.”
APPEA supports the committee’s recommendation of a public education campaign to provide up-to-date and accurate information about the gas industry, the regulatory environment in which it operates and the benefits of gas production.
[mappress] LNG World News Staff, November 22, 2012