Poor regulation of the gas industry is holding back investment in an energy source that is forecast to be increasingly in demand over the next two decades, high-ranking Santos executive Vince Santostefano has told a Darwin energy conference.
“I hope that the industry, together with the NT government can start to unlock the wealth of the Territory’s gas resources over the next four years – both onshore in the Beetaloo and offshore, mostly in Commonwealth waters.” “Until we tighten up the until approval means approval, it’s very difficult to see ,” Santos CEO Kevin Gallagher said in February.
The vilification of gas is holding back crucial investment in an energy source that is forecasted to increase in demand locally and across our region. Picture: Getty “Coal-to-gas switching has been the most significant contributor to US emissions reduction over the last two decades and it would make a huge difference in Australia as well – yet it is excluded from the government’s capacity mechanism,” he said.