The Australian Government has announced plans to complete a study into offshore gas basins in Southern Australia – as part of a $90 million investment in domestic gas security and supply.
The study of the Gippsland, Otway, Bass and Sorell Basins would look in to the prospect for future gas supplies for the South east Australia domestic gas market.
Australian Government minister for resources Matt Canavan said: “Australian jobs and Australian industry have been built up around the plentiful supply of affordable and reliable gas on the East Coast.
“But the original reserves that have powered our economy can’t last forever.
“To ensure Australia continues to make the most of our vast gas resources, it’s essential that we support ongoing exploration and development.”
The government will work with the Victorian and Tasmanian Governments on the ‘Offshore South East Australia Future Gas Supply’ study.
NOPTA and Geoscience Australia will provide advice as the study progresses.
The study will aim to develop a better understanding of the volumes of gas available in the area, and to identify ways to maximise sustainable gas recovery.