Latest / 360 with Katie Woolf / Federal Energy Minister Angus Taylor says priority gas projects are being accelerated to help increase access to fuel and reduce prices

Transcript

Federal Energy Minister Angus Taylor says priority gas projects are being accelerated to help increase access to fuel and reduce prices · 360 with Katie Woolf

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  Speaker 1: You're listening to Mix one O four point nine three sixteen.
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  Speaker 1: Now the Federal government say that they're accelerating priority gas
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  Speaker 1: infrastructure projects that will protect Australia from potential energy shortages
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  Speaker 1: as well as keep pressure on prices and create jobs
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  Speaker 1: in regional parts of the nation as part of a
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  Speaker 1: plan for a stronger future. Joining me on the line
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  Speaker 1: to tell me more about these plans for the Northern Territory.
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  Speaker 1: Angus Taylor, the Federal Energy Minister, Good morning.
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  Speaker 2: To you, Good morning Katie, thanks for having me Minister.
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  Speaker 1: Under this Future Gas Infrastructure Investment Framework Expression of Interest process,
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  Speaker 1: it's quite a mouthful. There is an additional fifty point
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  Speaker 1: three million dollars to be invested in seven priority projects
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  Speaker 1: as well as carbon capture and storage infrastructure. What's in
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  Speaker 1: it for the Northern Territory.
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  Speaker 2: Well, there's great opportunity to better connect the Northern Territory
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  Speaker 2: over to the East Coast and create new markets because
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  Speaker 2: the Bidloo Basin is a huge opportunity. We can connect
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  Speaker 2: the Bedloo Basin into the markets in the East. I
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  Speaker 2: mean Gladston today big user of gas and there's great
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  Speaker 2: potential for Northern Territory gas to be used by Australians.
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  Speaker 2: We want, first of all, Australian gas used by Australians
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  Speaker 2: for Australians, for Australia, and that's why this infrastructure plan
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  Speaker 2: is so important. Fifty million dollars to support infrastructure development
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  Speaker 2: to get the gas out of the ground, but most
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  Speaker 2: important to get it to markets that really count. Look,
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  Speaker 2: we're in an extraordinary situation right now where international prices
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  Speaker 2: for gas have just skyrocketed extraordinary levels and it hasn't
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  Speaker 2: happened in Australia. That means there's enormous potential to build
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  Speaker 2: out our manufacturing in this country using that gas for
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  Speaker 2: products like urea and alumina, and we want to see
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  Speaker 2: more of that. But it does mean we've got to
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  Speaker 2: have more gas out of the ground and getting to
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  Speaker 2: the locations where it's really needed for Australian use, and
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  Speaker 2: that's what this is all about.
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  Speaker 1: So obviously for the territory, as you mentioned, this feasibility
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  Speaker 1: study into the most efficient infrastructure to deliver natural gas
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  Speaker 1: from the Beterloo to the East Coast gas market, as
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  Speaker 1: well as a feasibility study on options for CO two
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  Speaker 1: pipelines between Beatloo and Middle Arm in the Darwin region.
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  Speaker 1: How long is this going to take? How long is
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  Speaker 1: the feasibility study going to take?
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  Speaker 2: We want them to move together ahead very quickly. They're
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  Speaker 2: all different, there's different components beyond each one of them.
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  Speaker 2: But we're not mucking around here. We want this to
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  Speaker 2: be done as fast as possible so we can start
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  Speaker 2: moving ahead with the projects. So the Northern Territory is
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  Speaker 2: a phenomenal opportunity. It's one of the great gas opportunities
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  Speaker 2: in the world. It also supplot will provide liquid fuels,
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  Speaker 2: so petroleum diesel and so on, because it's wet gases
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  Speaker 2: is called, and we need more of that. I mean,
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  Speaker 2: you only have to look at the price of the
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  Speaker 2: bowser to see we need more supply of oil. There's
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  Speaker 2: great potential for carbon capture and storage off sure from
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  Speaker 2: Darwin as well to reduce emissions as we're doing it,
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  Speaker 2: and so we want these projects to proceed as quickly
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  Speaker 2: as we possibly can. There are lots of approval barriers
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  Speaker 2: and regulentary barriers we've got to get through, which is
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  Speaker 2: why the feasibility needs to be done as quickly as possible.
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  Speaker 1: And I mean, are we in a situation here where
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  Speaker 1: we are going to see this takeoff. Do you think
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  Speaker 1: that this feasibility study is going to show that the
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  Speaker 1: Northern Territory realistically is incredibly well placed when it comes
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  Speaker 1: to the exportation of our gas, well.
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  Speaker 2: Yes, and use domestically as well. I mean, we want
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  Speaker 2: to see more manufacturing emerging in Darwin making use of
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  Speaker 2: that relatively low cost middle arm is the great opportunity,
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  Speaker 2: making use of that low cost gas as well as
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  Speaker 2: opening up export markets. And we do want to see
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  Speaker 2: that domestic usage, both in the Northern Territory and elsewhere.
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  Speaker 2: But it does mean we've got to have the gas
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  Speaker 2: supply to be able to do that. As I say,
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  Speaker 2: we're uniquely positioned as a country. There's very few countries
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  Speaker 2: in the world there are in the position we are
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  Speaker 2: now with very low cost gas relative to the rest
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  Speaker 2: of the world, and that means manufacturing has a real
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  Speaker 2: opportunity right now to open up more jobs, more investment.
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  Speaker 2: That's what we want to see.
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  Speaker 1: Now, Minister. I know that there are obviously environmental groups
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  Speaker 1: and others who feel quite concerned about the fracking of
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  Speaker 1: gas in the Beterloo, and we know that today there
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  Speaker 1: is in deeda Senate committee hearing here in Darwin happening
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  Speaker 1: looking into the government's decision to hand out fifty million
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  Speaker 1: dollars worth of grants looking to explore the be Toloo.
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  Speaker 1: Does the federal government stand by the handing out of those.
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  Speaker 2: Grants, Well, we stand by the work we are doing
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  Speaker 2: to get this industry to grow, to see more in investment,
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  Speaker 2: and to grow manufacturing jobs and other jobs on the
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  Speaker 2: back of it. I mean, that's what we want to
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  Speaker 2: do as a government, that's what we need as a nation,
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  Speaker 2: and we can do it in a way which is
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  Speaker 2: increasingly emissions efficient. Carbon capture and steorage is a technology
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  Speaker 2: that's taking off Illustrator and around the world. Now that's
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  Speaker 2: an important technology that can help us to do this
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  Speaker 2: as we bring our emissions down. But the truth is
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  Speaker 2: that our export markets in Asia cannot decarbonize unless they
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  Speaker 2: can get access to gas. That is the reality. The
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  Speaker 2: people who are opposed to gas and ideological grounds largely
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  Speaker 2: just want to see that industry destroyed. We know we
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  Speaker 2: can bring down emissions at the same time as having
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  Speaker 2: a thriving gas industry, and we know that's going to
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  Speaker 2: be good for the Northern territory, good for jobs, good
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  Speaker 2: for investment. Those apposed to it. I mean, every project
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  Speaker 2: needs to meet its environmental approvals and do the right
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  Speaker 2: thing by the environment, but the blanket opposition with and
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  Speaker 2: then from some activist groups, Frankly, it just makes no sense.
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  Speaker 1: Now, I'm Minister, I know your press for time, as
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  Speaker 1: are we, but you touched on it a moment ago.
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  Speaker 1: Those petrol prices there're sky high. I mean, in Darwin,
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  Speaker 1: at the moment for your diesel, the fares that you're
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  Speaker 1: going to find, it's two dollars eighteen and it goes
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  Speaker 1: right up there to two dollars twenty four. It seems
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  Speaker 1: as though the federal government at this stage is ruling
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  Speaker 1: out a fuel excise or cutting the fuel excise.
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  Speaker 2: Look, I'm not going to speculate on the budget, but
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  Speaker 2: I'll mention two things that we are doing. But the
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  Speaker 2: answer to high price is always the most important answer
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  Speaker 2: is more supply. That is the most important thing to see,
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  Speaker 2: and we are working with countries across the world to
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  Speaker 2: release supply of fuel sixty million barrels. We've agreed. We
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  Speaker 2: wrote to the United States several months ago proposing that
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  Speaker 2: this happened. It's happening, and that's incredibly important to put
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  Speaker 2: down with pressure on prices given the pain people are
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  Speaker 2: feeling at the bowser. But we also need new basins
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  Speaker 2: which are going to provide us with you oil. We
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  Speaker 2: need there was under investment in oil and gas during
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  Speaker 2: the pandemic that needs to be reverse and we need
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  Speaker 2: to see more supply coming out of the ground now.
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  Speaker 2: The Beatle is one of the great opportunities to do that,
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  Speaker 2: and that's why it's so important that happened as quickly
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  Speaker 2: as possible.
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  Speaker 1: Well, Angus Taylor, the federal Federal Energy Minister, we really
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  Speaker 1: appreciate your time this morning. Thanks so much for having
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  Speaker 1: a quick chat with us.
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  Speaker 2: Good on you, Katey, thank you.
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  Speaker 1: That is as I said, that is the minister there
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  Speaker 1: for industry energy and emissions reduction, I should say, Angus Taylor,
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  Speaker 1: good to have him on the show. That number if
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  Speaker 1: you do want to call through eight nine four one
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  Speaker 1: one four nine. Plenty more on the agenda this morning
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  Speaker 1: after ten o'clock