Already a subscriber?Western Australia has urged the Commonwealth to flex its “use it or lose it” powers on energy giants holding rights for several major offshore gas fields, as the industry claims the Albanese government’s policies are driving away international investment.
WA Premier Roger Cook said on Sunday that while it was up to his federal counterparts to decide whether to extend retention licences to companies that were yet to develop offshore assets, he wanted to ensure his state’s energy security was maintained. During an inquiry into the state’s gas policy settings last week, former WA resources minister Bill Johnston said when he was in the ministerial role, he wrote to the Commonwealth urging it to push the operators from retention to production licences, putting a five-year deadline on their uses of the fields.
“The WA government is committed to ensuring that resources are developed within the parameters set by the Offshore Petroleum and Greenhouse Gas Storage Act to ensure the supply of gas for export and domestic use,” he said.