The Australian Government has released its medium and long-term Future Gas Strategy, which boosts natural gas development despite its 2050 Net Zero target.
With Australia being one of the world’s largest exporters of liquefied natural gas (LNG), Resources Minister Madeline King said gas would be needed “through to 2050 and beyond” in the global shift to cleaner energy.
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“It is clear we will need continued exploration, investment and development in the sector to support the path to net zero for Australia and for our export partners, and to avoid a shortfall in gas supplies,” she said.
The Future Gas Strategy involves six principles that will underpin government policy on gas:
- Australia is committed to supporting global emissions reductions to reduce the impacts of climate change and will reach net zero emissions by 2050.
- Gas must remain affordable for Australian users throughout the transition to net zero.
New sources of gas supply are needed to meet demand during the economy-wide transition. - Reliable gas supply will gradually and inevitably support a shift towards higher-value and non-substitutable gas uses. Households will continue to have a choice over how their energy needs are met.
- Gas and electricity markets must adapt to remain fit for purpose throughout the energy transformation.
- Australia is, and will remain, a reliable trading partner for energy, including LNG and low emission gases.
“Ensuring Australia continues to have adequate access to reasonably priced gas will be key to delivering an 82% renewable energy grid by 2030, and to achieve our commitment to net zero emissions by 2050,” Minister King said.
“The strategy makes it clear that gas will remain an important source of energy through to 2050 and beyond, and its uses will change as we improve industrial energy efficiency, firm renewables, and reduce emissions.
“But it is clear we will need continued exploration, investment and development in the sector to support the path to net zero for Australia and for our export partners, and to avoid a shortfall in gas supplies.”
The Climate Council labelled the government’s Future Gas Strategy as a regressive echo of the past.
Climate Council Head of Policy and Advocacy Dr Jennifer Rayner said, “[This] announcement is more Back to the Future than Future Made in Australia. Australia is already using less gas, so the suggestion we need more of it sounds like Scott Morrison’s gas led recovery’, not Anthony Albanese’s ‘renewable energy superpower’.
“More gas means more climate pollution and a more dangerous future, it’s that simple. The Albanese Government has a choice: cut climate pollution and seize the decade by scaling up clean energy, or support new gas projects. It can’t do both.
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“The strategy seems to ignore forecasts of a global oversupply of gas and the government’s own plans to develop the workforce and supply chain for clean industries, which can power the next era of Australian prosperity if we go all in on them now.
“This can be Australia’s moment to start a sensible phase out of gas as we scale up the clean alternatives. More gas is a bad bet, against a safe climate future and a thriving clean economy.”
