Article by Gerard Cockburn courtesy of the West Australian.
Prime Minister Anthony Albanese says additional gas exploration will be critical to Australia’s energy transition.
Speaking in Sydney on Tuesday, Mr Albanese said gas would play a “key role” in the country’s push to greener energy and was a needed firming fuel source for businesses, while options like hydrogen remain more than a decade away.
The PM noted further exploration would be paramount over the coming years.
“This is where gas in particular has a key role to play, as a flexible source of energy — providing peaking power today and continuing to provide firming power,” Mr Albanese said.
“Helping to smooth the transition to renewables, while guaranteeing energy security both for Australia and for our partners in the region.”
His comments come just months after major gas companies warned of shrinking investment in future gas exploration stemming from the Government’s controversial decision to intervene in the gas market and propose legislative changes which include a reasonable price setting mechanism.
It also coincides with an ongoing battle of changes to the safeguard mechanism to combat emissions.
The Prime Minister’s speech at a business summit was also aimed at the Commonwealth’s push for greater economic ties with India.
Mr Albanese is expected to take a group of business delegates to the South Asian nation in a bid to boost exports.
“If you look at India, they have set ambitious goals for 50 per cent renewable energy by 2030 — and 30 per cent electric vehicles by the same year,” he said.
“Australia can help realise those goals — and not just as a supplier of critical minerals. But as a provider of technology and services, mining equipment, software and systems expertise, training and skills.”
