Mr HATTON - 1998-02-24
Exciting developments are occurring in the Timor Sea in the Timor Gap area off the Northern Territory coast, with extremely high prospects of this area developing into a world-class gasfield. The level of exploration occurring in the area at the moment to prove up resources is showing that potential quite clearly. Part of bringing that potential to fruition is to ensure that there are appropriate markets for the product. The Chief Minister visited China recently. Can the minister indicate what actions are being taken to facilitate access to the eastern states and other Australian markets for gas when it is brought onshore to improve the financial viability of such a project?
ANSWER
Madam Speaker, the government has commissioned a report, which I am to launch at 12.30 today, on the potential for Timor Sea gas being supplied and used within Australia. This report is very much a collaborative effort by a consultative group comprised primarily of petroleum industry representatives and convened by my Department of Mines and Energy.
Honourable members already recognise that the Timor Sea is a world-class oil and gas province where planning is under way for several new major LNG plants. Competitive bidding for tenements, high exploration commitments and outstanding success rates should ensure a continuing world focus of interest on the gas resources of northern Australia in the Timor Sea. The consultative group recognises that the development of the Timor Sea gas resources is entering a very exciting phase. The report analyses the market conditions and infrastructure
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requirements to transport Timor Sea gas to markets competitively, not only in the Northern Territory but also elsewhere in Australia.
The Territory government is obviously very keen to facilitate LNG projects and the large-scale use of Timor Sea gas by major consumers in the metals, refining, smelting, petrochemical and other industries. One of the major points of the report is that we do not simply want LNG gas supplied to the rest of Australia by means of pipelines. We want to encourage development in the Northern Territory, using that resource. To this end, I am inviting companies to examine this report and to participate in the potential investment opportunities that certainly will accompany Timor Sea gas being available in the Northern Territory.
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ANSWER
Madam Speaker, the government has commissioned a report, which I am to launch at 12.30 today, on the potential for Timor Sea gas being supplied and used within Australia. This report is very much a collaborative effort by a consultative group comprised primarily of petroleum industry representatives and convened by my Department of Mines and Energy.
Honourable members already recognise that the Timor Sea is a world-class oil and gas province where planning is under way for several new major LNG plants. Competitive bidding for tenements, high exploration commitments and outstanding success rates should ensure a continuing world focus of interest on the gas resources of northern Australia in the Timor Sea. The consultative group recognises that the development of the Timor Sea gas resources is entering a very exciting phase. The report analyses the market conditions and infrastructure
Page 13
requirements to transport Timor Sea gas to markets competitively, not only in the Northern Territory but also elsewhere in Australia.
The Territory government is obviously very keen to facilitate LNG projects and the large-scale use of Timor Sea gas by major consumers in the metals, refining, smelting, petrochemical and other industries. One of the major points of the report is that we do not simply want LNG gas supplied to the rest of Australia by means of pipelines. We want to encourage development in the Northern Territory, using that resource. To this end, I am inviting companies to examine this report and to participate in the potential investment opportunities that certainly will accompany Timor Sea gas being available in the Northern Territory.
Page 14
Last updated: 09 Aug 2016