The Queensland natural gas industry has taken another important step forward with a major announcement by QGC, and its joint venture partners, of the development of the Charlie tenements in the Surat Basin.
This is a major investment in the future of the Queensland natural gas sector, which has been a major creator of jobs and a generator of broader economic benefit over the past five to seven years.
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The fact that the QGC's Charlie Project will create up to 1,600 construction jobs, and provide other major business benefits for communities around Taroom, Wandoan and Chinchilla, is proof of the gas sector's ongoing vital importance to the Queensland and Australian economies.
Queensland has led the way in developing a world-class natural gas industry and the announcement of another major development is testament to the confidence that proponents have in the industry.
This major investment by the QGC consortium partners sees the Queensland gas export sector tap into the 160 percent growth in Asian gas demand out to 2040.
The industry is subjected to world-class regulation that ensures the interest of all parties, including landowners and local communities, are safeguarded. It has been assessed by a range of independent experts and has passed all approval stages.
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The International Energy Agency's World Energy Outlook released on 10 November stated: "Overall, the Queensland approach seems to embody many features of regulatory best practice, with cumulative, regional assessments revised regularly, purpose built institutions and a strong focus on water issues."
The benefits of this project will flow far and wide from communities around the project in the Surat Basin to Queenslanders in regions across the state with the royalties paid to the state helping to pay for schools, hospitals and roads potentially from Cape York to Coolangatta.
The Queensland natural gas sector supports more than 114,000 Queensland jobs and 3,600 businesses and accounts for 7 percent of the entire Queensland economy.