New data has revealed Queensland’s booming natural gas industry, with $70billion worth of projects edging towards completion.
Landholders are capitalising on the region’s lucrative resources, signing agreements at a rate of 2.8 a day, according to figures released by the Australian Petroleum Production and Exploration Association (APPEA).
Natural gas anchors the local economy, employing more than 40,000 people as director employees and various contractors.
APPEA chief operating officer Eastern Australia, Paul Fennelly, said: “Queensland landholders have been signing agreements at a rate of 2.8 a day over the last year and there have been no formal land access disputes to date.
“We recognise negotiating such agreements can be a daunting experience for landholders but communicating early and often can lead to compromise and mutually beneficial arrangements between gas companies and landholders.
“Such achievement reflects hard work undertaken in good faith between companies, the state government, local councils, farmers, Ag Force, the Queensland Gasfields Commission and local community reference groups.
“Queensland has set a benchmark other eastern Australian states must match if they are to address supply shortfalls by safely exploring and producing local natural gas resources.
“NSW in particular should be looking and learning from the Queensland experience.”
More than 4500 land access agreements have been signed with gas companies since 2011 and the first LNG tanker is likely to leave Queensland shores by the end of year.
And the relationship has been reciprocal. In the same time period the industry has contributed nearly $124million to community schemes, including supplying new hospital equipment and funding the aeromedical media rescue services.
Mr Fennelly added: “Industry remains a significant employer in Queensland but we can expect to see jobs taper off over time as projects move from construction to operation.
“There remains enormous potential for the state, through an appropriate regulatory framework, to attract further resource investment in exploration and production.”