Enhancing Australia's Economic Prosperity
Resources Energy Tourism Department

Energy

The Australian Government is committed to the provision of adequate, reliable and affordable energy to meet future energy consumption needs and to underpin strong economic growth, consistent with the principles of environmental responsibility and sustainable development.
5.4: Measuring policy success

Policy success will be based on Australia’s ability to maintain a continuous stream of new and committed energy resource projects moving through the project pipeline, from exploration to production, and will be observed through the following outcomes:

  • Australia becomes a more competitive destination for investment in the energy resources sector, including through:

    • reduced regulatory and approval costs, including efficient and effective regulatory arrangements for energy resource projects that comply with agreed timeframes for project approval while maintaining a high level of health, safety and environmental performance
    • addressing potential development bottlenecks by facilitating access to an appropriately skilled workforce and adequate efficient and competitively priced infrastructure.
  • Taking into account commodity price cycles and broader economic conditions, Australia is able to:

    • maintain a robust pipeline of exploration and energy resource development projects that can meet our export and domestic energy needs into the future
    • convert prospective energy resource developments into production in a timely fashion
    • increase levels of exploration for energy resources, particularly in greenfield areas.
  • A National Mineral Exploration Strategy will be developed to deliver nationally harmonised, world-class pre-competitive geoscience and an increased level of information gathering and availability.

  • A multiple land-use framework is implemented and promotes more mutually beneficial co-development, rather than exclusions and disputes.

  • Opportunities for Australian industry participation and Indigenous business and employment associated with energy resources development are improved.

Energy resources policy actions

To advance energy resource development in Australia, the Australian Government will:

  • promote more efficient and effective regulation for the energy resources industries by:

    • working with states and territories through COAG and the Business Advisory Forum to improve business regulation
    • updating offshore petroleum retention lease arrangements to continue to promote the timely development of resources, improve regulatory transparency and facilitate third-party comment on the commerciality of offshore petroleum developments, while also providing certainty of gas supply over long timeframes including for highly capital-intensive LNG projects
    • paying closer attention to the potential for offshore LNG projects to supply the domestic gas market when assessing retention lease applications or considering the granting of a production licence
    • considering the introduction of cash bidding for offshore petroleum acreage release
  • promote safe and sustainable development of our energy resources, particularly our gas resources, by:

    • working through the SCER to develop a nationally harmonised regulatory framework for the CSG industry
    • developing a better understanding of the direct and cumulative impacts of proposed coal mining and CSG developments through the formal establishment of the Independent Expert Scientific Committee on Coal Seam Gas and Large Coal Mining Developments
    • undertaking further work to assess the potential impacts to groundwater resources by providing advice on regional hydrological characterisations (Geoscience Australia will undertake collaborative scientific studies to address gaps in scientific understanding through data collation and analysis to support the assessment of coal-seam gas and coal mine developments)
    • working with states and territories to help ensure that shale and tight gas resources are developed sustainably and with appropriate community consultation
    • working through the SCER to develop a world-class multiple land-use framework to promote coexistence, rather than exclusion, as a key principle in land-use policy
  • enhance Australia’s energy resource prospectivity by:

    • supporting the continued provision of high-quality pre-competitive information through Geoscience Australia
    • updating the Australian Energy Resource Assessment every three years from 2013
    • working with states and territories through the SCER on options to improve mineral resource and ore reserve disclosure by companies not listed on the ASX
    • working with states and territories through the SCER to develop the National Exploration Strategy to address Australia’s greenfield mineral exploration challenge
    • considering the recommendations of the forthcoming Productivity Commission inquiry into non-financial barriers to mineral and energy resource exploration
  • address capacity constraints in our energy resource export infrastructure by monitoring its adequacy and undertaking regular forecasts of export infrastructure requirements for bulk commodities, such as coal and LNG

  • capture opportunities for local industry and communities by:

    • requiring greater transparency and accountability in implementing Australian Industry Participation plans
    • working with industry to enhance firms’ capability and competitiveness to win work and integrate with global supply chains.
Page Last Updated: 8/11/2012 2:35 PM