APPEA: Natural gas industry contributes $55bln to Queensland economy
The natural gas industry contributed around $55 billion to Queensland’s economy over seven years, according to a new report released today by Lawrence Consulting.
The report, published on the website of the Australian Petroleum Production & Exploration Association (APPEA), claims that almost $5 billion was spent on wages state-wide during the period with the industry employing around 4,600 full-time employees.
The industry spent around $50 billion on goods and services from local community contributions and payments to local government as well as royalties, stamp duty, and tax.
The study incorporated spending from Arrow Energy, ConocoPhillips, Origin, QGC, Santos, Senex, and Westside Corporation.
APPEA Queensland director Georgy Mayo said: “Natural gas has also provided a huge boost to regional centers like Gladstone, Toowoomba, Roma, Dalby, and Chinchilla.
“As we are in the midst of one of the worst droughts on record, the natural gas industry has also helped offset some of the hardship with jobs, economic development, and providing a new source of water for landowners.”
Data from the Shared Landscapes report released by the Queensland Gasfields Commission in August 2019 indicates that $78 million was paid by the industry to landholders in 2018-19.
The Commission also shows that almost all of the 66,000 megalitres of groundwater extracted by the industry is treated and beneficially reused.
“Queensland is leading the country in showing how natural gas and farming can succeed together, and all Queenslanders are benefiting,” Mayo added.