Senex CEO Ian Davies and APA Group’s Adam Watson will warn of a “desperate” need for new gas supply to help cut emissions, and prevent higher costs for customers.
Already a subscriber?Unrelenting big-stick intervention in the gas market has created a “mess” that is threatening the survival of manufacturing and risking blackouts for households, according to Senex Energy CEO Ian Davies, who says major policy reforms are needed to prevent investment grinding to a halt.
“That means doing more than secret ‘lock-ups’ under punitive non-disclosure agreements with select industry groups and no formal consultation papers or regulatory impact statement,” Mr Davies will say at the Australian Domestic Gas Outlook conference. Mr Davies will specifically blame “legislative bureaucracy” for the delay in the approvals process, which he said has already increased the cost of the project by more than $150 million.“It’s crunch time and these reforms must be a political imperative,” Mr Davies will say.
Cooper Energy chief executive Jane Norman is expected to reinforce the comments, blaming government intervention for exacerbating the shortage risk as capital and investment shifts to other countries. , said its terminal would be able to supply more than 250 terajoules a day of gas to the Iona gas storage plant in Victoria, helping stave off winter shortfalls.
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