The WA Govt have just published their updated domestic gas policy as follows:
An exemption will remain in place for the 'first-mover' in the Canning Basin, to encourage development in the State's north.
Updated domestic gas policy to secure WA's energy future
The Cook Labor Government is taking action to deliver energy security and a strong economy as the State transitions to a clean energy future, today releasing an update to the State's landmark Domestic Gas Policy to encourage new onshore gas development.
WA's Domestic Gas Policy updated to secure a strong economic future for the State
80 per cent of onshore gas production reserved for domestic use until 2030, to facilitate new project development
100 per cent of onshore gas production reserved for domestic use from 2031
WA's landmark 15 per cent offshore reservation policy to continue
Stronger application of "use it or lose it" provisions for onshore gas licenses
Measures to support affordable energy, local jobs and WA's economy, as WA transitions to a clean energy future
The Cook Labor Government is taking action to deliver energy security and a strong economy as the State transitions to a clean energy future, today releasing an update to the State's landmark Domestic Gas Policy to encourage new onshore gas development.
Under the updated Domestic Gas Policy, onshore gas projects will be required to reserve 80 per cent of gas production for WA domestic use up until 31 December 2030, after which projects will be required to reserve 100 per cent for the local market.
Allowing new gas projects to export a reasonable proportion of production over the next five years will help to stimulate development while WA's gas market is balanced, and ensure more gas is brought to market in decades to come – helping WA to continue its transition to renewable energy, backed by gas as a firming fuel.
The revised policy will apply to new onshore gas projects or existing projects seeking to expand production.
An exemption will remain in place for the 'first-mover' in the Canning Basin, to encourage development in the State's north.
In other words, WA is going back to the Stone Age as investment in O&G grinds to a halt statewide, creating the mother of all supply crises, except in the Canning Basin.
