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Australia: Santos welcomes progress on National Gas Infrastructure Plan
07 May 2021
Santos welcomes the Federal Government’s release of the interim
National Gas Infrastructure Plan. Santos Chief Executive Officer and Managing Director Kevin Gallagher said the Plan is based on an open, competitive market approach and encourages investment in new local supply and infrastructure, which is the best way to put downward pressure on east coast domestic gas prices. The best thing the government could do to get gas prices down on the east coast is to remove barriers to investment and promote private investment in new gas supply sources and pipelines through stable energy and fiscal policy, Mr Gallagher said.
Article by Amanda Jasi
AUSTRALIA’s budget for this fiscal year will see it invest A$539.2m (US$416.6m) in hydrogen and carbon capture, use, and storage (CCS/CCUS) projects that will support industry, create 2,500 jobs, help cut emissions, and drive further investment.
The investment is expected to reduce technical and commercial barriers to deploying these technologies and encourage new large-scale investment from the private sector, creating jobs and supporting the nation’s economic recovery, particularly in regional areas.
The Government intends to spend A$275.5m of the budget to accelerate development of four additional clean hydrogen hubs in regional Australia and implement a clean hydrogen certification scheme. In February, Australia announced pans for 13 regional hydrogen cluster. The remaining A$263.7m will be used to support development of CCS/CCUS projects and hubs.