Resources Minister Madeleine King is releasing a further ten sites for exploration for new oil and gas projects off the coasts of Victoria,the Northern Territory and Western Australia.Credit:Trevor Collens
“The annual release of areas for offshore petroleum exploration supports ongoing investment in the nation’s petroleum sector,which is vital for the economy and meeting the energy needs of Australians,” King said.
“At the same time as we strive to reduce emissions it must be emphasised that continued exploration for oil and gas in Commonwealth waters is central to alleviating future domestic gas shortfalls.”
The new sites are in Commonwealth waters in 10 areas,including Victoria’s Gippsland basin and Western Australia’s Carnarvon basin.
Australia remains a net exporter of gas,and imports much of its oil due to the lack domestic of oil refinery capacity.
According to an analysis by the International Energy Agency last year the world cannot build any new oil and gas projects if it expects to meet Paris Agreement climate goals.
Senator David Pocock said on Wednesday night he was concerned the government was pursuing “business as usual” with the oil and gas industry given the IEA’s analysis and the government’s own target to reduce greenhouse gas emissions.
Greens Senator Peter Whish-Wilson said the release of the sites “made a mockery” of its own climate targets with the announcement.