APPEA CEO Samantha McCulloch says the past few months have been “challenging” for the gas industry.“From our perspective as an industry we would like to still encourage the government to give the market the opportunity to work to be able to send those signals for investment in that new supply that’s needed,” Ms McCulloch toldahead of the APPEA conference next week, when gas market regulation will be a hot topic of debate.
The comments come as submissions on the code were due to be lodged with government by 5pm on Friday. While the latest proposed code wound back some of the most contentious of the original provisions, producers such as Woodside Energy, Santos and Shell are expected to argue against several elements.when the new rules were proposed will move to resume investment until modifications are made and locked in.
The market intervention is just one of multiple regulatory hurdles in the way of the gas industry, including tougher emissions rules, stricter requirements on Indigenous consultation for offshore projects and recent reforms to the rules governing LNG exports.
Ms McCulloch said the court ruling had resulted in increased cost and complexity for the industry to secure approval for environmental plans, and said regulator processes had to provide certainty to allow timely decisions on projects.
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