Global giant Shell will unveil its next natural gas development, with the project estimated to be worth about $500 million and create hundreds of local jobs in regional Queensland.
Shell plans to drill 250 gas wells throughout 2019 and 2020 at its new called Project Goog-a-binge, as part of the company’s QGC ventures in the Western Downs region.
The project is expected to generate 930 petajoules of gas for both domestic and export customers over the next 30 years.
In comments obtained by The Courier Mail, Shell Australia chairman Zoe Yujnovich said Project Goog-a-binge – a name gifted by the Iman Traditional Owners meaning scrub turkey – demonstrated the company’s commitment to bring more gas to the market.
“Project Goog-a-binge will deliver more and cleaner energy for both our Australian and LNG export customers for decades,” Ms Yujnovich said.
“The project is expected to create or sustain up to 350 jobs, the majority of which will be in regional Queensland and generate business opportunities for local suppliers – a substantial and ongoing boost for the local economy.”
In comments obtained by The Courier Mail, Energy Minister Dr Anthony Lynham welcomed the announcement, and said it showed Queensland was the “nation’s energy powerhouse”.
“This latest expansion plan will help ensure sustained gas supply to domestic customers as well as royalties to fund frontline services across the state,” he said.
“Most importantly, it will pump millions of dollars into local household budgets, local stores and local businesses for the next 30 years.”
Resources and Energy Quarterly September 2018 figures released earlier this month showed LNG exports increased 36 per cent to $31.7 billion in 2017-2018, and were forecast to hit $48.4 billion in 2018-2019.
In comments obtained by The Courier Mail, Queensland Resources Council chief executive Ian Macfarlane said the Sunshine State was “in the box seat” to supply local gas users.
“This latest project from Shell on the Western Downs shows the benefits to both the regions and the East Coast gas market from the resources industry’s continuing investment,” he said.
“With a go-slow on gas development in NSW, and a blanket ban on some types of gas projects in Victoria, what the Southern States are really saying is they’re not prepared to support local jobs and local industry.”
Australian Petroleum Production and Exploration Association chief executive Dr Malcolm Roberts said LNG exports were critical to the country’s economic growth, particularly in the face of intense competition.
“Australia’s LNG projects will deliver decades of economic growth, jobs and exports,” Dr Roberts said.
“Good policy and sensible regulation are vital if Australia is to overcome these competitive challenges.”