APPEA has welcomed approval of the Santos Narrabri Gas Project by the Independent Planning Commission as an “important step towards supporting jobs and economic recovery in NSW”.
APPEA Chief Executive Andrew McConville said the project will unlock natural gas reserves to supply NSW homes, small businesses, major industries and electricity generators with up to half the state’s natural gas needs, bringing substantial economic benefits to Narrabri and the region.
“The Narrabri community and surrounding region will directly benefit with up to 1,300 jobs created during construction and 200 local ongoing jobs. The project will help build stronger and more vibrant regional communities through significant community investment, including a Regional Community Benefit Fund that will deliver up to $120 million to the region to support major initiatives and infrastructure projects.
“The IPC’s approval of this Project is acknowledgement of the already proven track record of the onshore gas industry in Queensland, where thousands of jobs have been created, billions of dollars invested in regional communities, and hundreds of millions of dollars paid to farmers, with no significant environmental impacts and over 66,000GL of water returned to farmers for their beneficial use, or injected back into aquifers,” Mr McConville said.
Supply and demand
“The clearest way to put downward pressure on gas prices for customers, including manufacturers, is to increase supply and competition. The Narrabri Project does just that. This is an important outcome for energy security and reliability for the state of NSW.”
The green light for Narrabri comes after Australia Prime Minister Scott Morrison pledged to stimulate gas supplies and construct a new power station in the Hunter Valley if AGL fails to replace the Liddell coal-fired station by April next year.
AGL had revealed plans to replace Liddell with renewables technology and batteries.