MORE than 19,000 square km of Queensland will be released for exploration for gas to power local manufacturing, and to identify new-age minerals needed for the next technology and renewables boom.
Natural Resources and Mines Minister Anthony Lynham released the Annual Exploration Program for 2017-18 this morning.
“Knowing what’s under the ground through exploration gives Queensland a front row seat in delivering the next generation of projects, and the energy needs for the future,” Dr Lynham said.
“With almost 18,000sq km petroleum and gas exploration, this is good news for the local manufacturing and electricity consumers as more gas supply means, downward pressure on energy prices.”
The Queensland Resources Council chief executive Ian Macfarlane said Queensland was continuing to lead the way in responsibly developing the resources sector.
“The economics of supply and demand are simple, if demand for gas is strong you need to increase supply to put downward pressure on prices,” Mr Macfarlane said.
“Queensland's latest exploration program includes almost 18,000sq km for gas and petroleum exploration, which builds on the state's advanced gas industry.
“NSW and Victoria must follow in the footsteps of Queensland and work with industry to responsibly develop their own gas reserves.
“Both states were quick to claim that they supported the recommendations of chief scientist Alan Finkel’s report, but they have overlooked the recommendation which calls on governments to adopt evidence-based regulatory regimes to manage gas projects.
"We need all state governments to follow the advice of science, not shock jocks and scare campaigns, to underpin the east coast gas market and the jobs that rely on it.
"In total, four gas basins are set for exploration which include the Surat, Bowen, Eromanga and Adavale basins. The exploration program also includes 1100sq km of land for minerals in the North-West Minerals Province and 540sq km of coal in the Bowen and Galilee basins.