The memorandum of understanding signed between the governments says the agreement is not "a legally binding or enforceable document". It records the parties' responsibilities "but does not give rise to legally enforceable obligations".Prime Minister Scott Morrison said on Friday the deal represented a "forward-looking commitment" from NSW that would unlock new gas supply and put "downward pressure on prices".
NSW Energy Minister Matt Kean said NSW's pre-existing "rigorous" planning and environmental assessment processes remained in place. Ms Berejiklian said NSW had already opened the door for private companies to build liquefied natural gas facilities at Port Kembla or Newcastle. Gas imports can produce a perverse resources cycle where private companies ship LNG back to Australia that they have imported from Queensland exporters.
Federal Energy and Emissions Reduction Minister Angus Taylor said 70 petajoules a year was "a massive increase in gas" for NSW, which consumes around 120 petajoules annually, and "more supply pushes down prices". Before Australia started exporting gas in late 2014, the long-term average wholesale price for gas on the east coast was $3 to $4 a petajoule. Queensland's export industry has grown rapidly since then to make Australia the world's largest gas exporter. Linking the domestic market to international prices has pushed up Australia's wholesale price, which hovers around $8 to $12 a petajoule.
micksfoley The energy future in NSW and Sydney we have just seen in January 2020. No paper signed by what are essentially fossil fuel addicted governments will help
Morrison NSW energy deal will invest in clean technology and energy efficiency Anthony Albanese is still complaining, cant tell you what he will do, Just spin-whinge & no polices 2019 In parliament Albo votes for a “Climate Emergency” 2020 Albo NO policy on reducing emissions