Origin Energy bidder EIG not fazed by gas threats

says it is willing to ignore government threats of export controls and price caps and invest in Australia for the next 20 years because it believes the nation’s gas resources will play a crucial role in the transition to clean energy.

“It does make it challenging and tricky from an investment standpoint, and you do need to keep an eye on the regulatory environment, the fiscal environment and political risk more than you historically would have, but that’s a phenomenon that’s happening around the world.” “People need to recognise that this is a transition and that gas is the key fuel to make it happen. So it’s in everybody’s interest that we provide security and price stability – otherwise, there’s a real risk that the public turns on decarbonisation, and then we’re all losers.”“So even the most fervent environmentalists should recognise that price stability is in their interest,” he said.

Treasurer Jim Chalmers says there’s a public appetite for changes to petroleum taxation that would raise more money.left Australia empty-handed in 2018 after a year of chasing the gas assets of producer Santos The attraction for EIG to Origin is that the assets are operational, not in development stage, and therefore have strong long-term customer contracts and lower risk.

“I do believe the market makes a big distinction between natural gas and coal, and to a lesser extent, oil. And so you know, on that continuum of public pushback, to be honest with you, we’re really not seeing it on gas yet.”

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