STX (ASX) Support for domgas review

Originally posted by mrpog: ↑

Liberal Leader Libby Mettam calls for review of ban on export of onshore gasJosh ZimmermanThe West Australian11 January 2024 Liberal Leader Libby Mettam wants a review of the blanket ban on the export of onshore gas, suggesting there is bipartisan support for a major overhaul of WA’s flagship domestic energy policy. Amid increasingly dire warnings about imminent shortages of gas – which will be critical to replace coal in the State’s primary power grid – Ms Mettam said WA needed “policies to support investment in supply”. Her comments come after Premier Roger Cook late last year flagged he was considering lifting the prohibition on exporting gas extracted onshore. “Gas producers need overseas investment to develop our gas fields and without export opportunities those investment dollars dry up,” Ms Mettam said. “This has also been exacerbated by Federal and State Labor’s approvals process which has held up future projects with excessive red tape. “A mandated review of the policy, for example every five years, could be undertaken to ensure it is best serving the state’s needs. “The success of policies such as this lies in their ability to adapt to changing global and domestic conditions.” WA’s signature domestic gas reservation policy requires 15 per cent of all LNG produced offshore to be supplied to the local market. However, onshore projects – such as those under consideration in the Perth Basin – are not permitted to export at all. In submissions to an ongoing parliamentary inquiry examining the effectiveness of the reservation scheme, multiple major gas players – including Woodside and Mineral Resources – advocated for onshore developments to be permitted to also sell some of their product overseas. They argue export rights would improve the commercial viability of new projects currently under consideration, which are required to safeguard local supply. “The Liberal Party supports a review of the State’s onshore reservation policy to ensure it is working in WA’s best interests,” Ms Mettam said.“Our priority will always be ensuring there is adequate supply for our domestic market, however we also need policies to support investment in gas supply.” Shadow energy minister Steve Thomas said predicted shortfalls were a “problem of the Government’s own making” after the 2020 decision “to formalise what was already a standing practice to prevent onshore gas being exported”. “The McGowan Government was good at deluding itself that the energy system in this state was perfect until a number of reports came in dispelling this myth,” Dr Thomas said. “The (parliamentary inquiry) is likely to find that some export of onshore gas is needed to underwrite the business cases of new projects, but meeting the needs of domestic gas users is also critical.” In an end-of-year interview, Mr Cook said WA’s domestic gas settings were a “live issue” and he wanted to have a “conversation with industry” about potential changes – including lifting the onshore export ban. “What some (companies) are telling us is that in order to make sure that their facilities are commercial, they need early cash flows, which can be brought on by early exports to the international market where they enjoy a higher price,” the Premier said. “And so we need to obviously have a conversation with them about what those dynamics look like. “At the end of the day, the fundamental principle is it’s Western Australian gas so Western Australians should benefit from it. “But it’s no use having a domestic gas reservation policy if it means that domestic gas does not come to the market – and if that means that we have to continue to review that policy, we will.”

Expand

Thanks for sharing.

Good to hear it has bipartisan support from the Liberal leader.

No.	Vol.	Price($)
6	172742	24.0¢

No.

Vol.

Price($)

172742

24.0¢

Price($)	Vol.	No.
24.5¢	657518	10

Price($)

Vol.

No.

24.5¢

657518

No.	Vol.	Price($)
4	40850	0.240
9	862668	0.235
21	1771718	0.230
14	624929	0.225
18	563140	0.220

No.

Vol.

Price($)

40850

0.240

862668

0.235

1771718

0.230

624929

0.225

563140

0.220

Price($)	Vol.	No.
0.245	571557	9
0.250	982439	25
0.255	671902	12
0.260	1354615	27
0.265	228775	6

Price($)

Vol.

No.

0.245

571557

0.250

982439

0.255

671902

0.260

1354615

0.265

228775

(20min delay)
Last 24.5¢		Change 0.000(0.00%)		Mkt cap ! $700.8M

Open	High	Low	Value	Volume
24.5¢	24.8¢	24.0¢	$1.843M	7.583M


Last 24.0¢		Change 0.000 ( 1.03 %)
Open	High	Low	Volume
24.5¢	24.8¢	24.0¢	3244140
Last updated 15.59pm 15/05/2024 ?

Support for domgas review, page-2

Featured News

Want copper with that? Boss Energy hits orange metal on-site uranium play

Recce Pharma heading closer to full efficacy data for flagship R327

Market Close: Materials win on critical minerals, hydrogen budget promises

Is IPO mania back for the ASX? Sun Silver jumps 100% on first day of listing

Retail Revolution: Shekel Brainweigh leads the charge in Digital Inventory Management

Buyers (Bids)

Sellers (Offers)

Featured News

Support for domgas review, page-2

Featured News

Top Stories

Want copper with that? Boss Energy hits orange metal on-site uranium play

Recce Pharma heading closer to full efficacy data for flagship R327

Market Close: Materials win on critical minerals, hydrogen budget promises

Is IPO mania back for the ASX? Sun Silver jumps 100% on first day of listing

Retail Revolution: Shekel Brainweigh leads the charge in Digital Inventory Management

Buyers (Bids)

Sellers (Offers)

Featured News