The Rudd Govt has signalled that it wants Australia’s oil and gas reserves worth billions of dollars, developed as soon as possible; to speed this it wants to end the practice of companies delaying development by sitting on retention leases.
Gas reserves are specifically mentioned. - "The rapid proliferation of retention leases at a time of unfulfilled domestic demand and increasing numbers of longer term [liquefied natural gas] customers suggests a prima facie case for changes," the paper says.
