Gas investment set to inject millions of dollars into regional Queensland

Queensland’s regional economy is being boosted with a $30 million investment in Yebna North by Australian gas producer Santos and its GLNG partners (Petronas, Total and KOGAS).

Premier Annastacia Palaszczuk said the investment would enable production from an undeveloped area in the north east of the existing Fairview coal seam gas field, generating an estimated $22 million in royalties for Queensland. 

“The $30 million investment will support jobs and business opportunities in the Roma region with Santos already spending $650 million a year with regional Queensland businesses,” the Premier said at the official opening of the Santos community shopfront in Roma.

“My Government continues to work closely with the resources industry because we are committed to creating jobs for Queenslanders.”

Santos and its GLNG partners are investing around $800 million in Queensland this year, supporting employment for nearly 1200 Queenslanders and providing more opportunities for small and family businesses in the regions.

The Premier said since 2015, the State Government has facilitated $21 billion in resources investment, supporting more than 8000 jobs.

“Partnering with the private sector to rebuild our economy and create jobs is an important part of our economic recovery plan,” the Premier said.

“Regional Queensland is at the heart of my Government’s strategy to rebuild and recover from the COVID-19 pandemic and the resources industry is key to this, supporting thousands of local businesses and around 71,000 Queensland jobs.”

Resources Minister Scott Stewart said Queensland continue to lead the way for supplying gas to the east coast market.

“Since 2017 the Palaszczuk Government has released 80,000 square kilometres of land for gas exploration and development, with 20,000 for the domestic market only,” Mr Stewart said.

“The gas industry continues to be a vital part of the state’s economy and is creating and supporting jobs throughout regional Queensland.”

The Yebna North project will connect 13 appraisal wells to the existing Fairview pipeline and power distribution network.

Santos Chief Executive Officer and Managing Director Kevin Gallagher said the Palaszczuk Government had been a great supporter of the gas industry and the jobs and investment we create here in Queensland.

“We’re very pleased to work with the Queensland Government to continue to explore and develop new gas supplies for both domestic and LNG markets,” Mr Gallagher said.

“Queensland continues to lead the way and do the heavy lifting for the east coast gas market in Australia and in doing so, Queensland communities like Roma are benefiting with stronger local economies.”

In the 12-months to February 2020, the resources sector earned $47 billion in export revenue, contributing significantly to Queensland’s gross State product.

“My Government is committed to securing a robust energy future for Queensland and for Australia,” the Premier said.

“We’re supporting jobs for Queenslanders, delivering billions of dollars for our economy.”

ENDS

Media contact: Jack Harbour 0419 620 447