• Sign up for the Daily Digest E-mail
  • Facebook
  • X
  • LinkedIn

BOE Report

Sign up
  • Home
  • StackDX Intel
  • Headlines
    • Latest Headlines
    • Featured Companies
    • Columns
    • Discussions
  • Well Activity
    • Well Licences
    • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts/Data
    • CAOEC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
    • Data
      • Canada Oil Market Data
      • Canada NG Market Data
      • USA Market Data
      • Data Downloads
  • Jobs

Australia backs long-term gas exploration despite 2050 climate goals

May 8, 20244:45 PM Reuters0 Comments

Australia’s resources minister said on Thursday she backs the long-term exploration of potential natural gas projects, setting up a potential clash with opposition lawmakers and some in the incumbent Labor Party that oppose its use.

Australia, one of the world’s largest producers of liquefied natural gas (LNG), is committed to reducing its emissions to net zero by 2050.

But Resources Minister Madeline King said in a column in the Australian Financial Review on Thursday, ahead of the launch of the government’s Future Gas Strategy, that “gas is needed out to 2050 and beyond.”

“The energy transformation will take time – it will take investment in renewables, new industry processes, new technologies,” she said.

Australia supplies around a fifth of global LNG supply shipped last year, with the largest projects run by Chevron and Woodside Energy Group in Western Australia.

Woodside is developing the Scarborough LNG project in Western Australia and the Beetaloo Basin in the Northern Territory, both of which have faced strong opposition from environmental campaigners.

“The strategy also makes it clear that we can’t rely on past investments to get us through the next decades, as existing fields deplete,” King said.

“That will mean a continued commitment to exploration, and an openness to the kinds of foreign investment that have helped build the industry into the powerhouse it is today.”

The Labor Party led by Prime Minister Anthony Albanese, who faces reelection in a federal poll due next year, is reliant on the Greens and independent lawmakers to pass legislation in the Senate, the upper house of parliament, where Labor lacks a majority.

(Reporting by Alasdair Pal in Sydney; Editing by Richard Chang)

Chevron LNG

Follow BOE Report
  • Facebook
  • X
  • LinkedIn

Sign up for the BOE Report Daily Digest E-mail

Successfully subscribed

Latest Headlines
  • July 9th Alberta Crown Land Sale totals $25.3 MM – Montney and Clearwater prospects command premiums – StackDX Intel
  • Discount on Western Canada Select narrows to $10 a barrel
  • Vermilion Energy Inc. Announces Closing of the Saskatchewan Asset Sale
  • Brazilian oil could find new destinations in the face of Trump’s tariffs
  • Gibson Energy Confirms 2025 Second Quarter Earnings Release Date and Provides Conference Call & Webcast Details

Return to Home
Alberta GasMonthly Avg.
CAD/GJ
Market Data by TradingView

    Report Error







    Note: The page you are currently on will be sent with your report. If this report is about a different page, please specify.

    About
    • About BOEReport.com
    • In the News
    • Terms of Use
    • Privacy Policy
    • Editorial Policy
    Resources
    • Widgets
    • Notifications
    • Daily Digest E-mail
    Get In Touch
    • Advertise
    • Post a Job
    • Contact
    • Report Error
    BOE Network
    © 2025 Stack Technologies Ltd.