An Australian Government report has highlighted that the direct economic impacts of CSG lead to increases in employment, output, income, government revenue and regional populations.
The Australian Government’s “Review of the socioeconomic impacts of coal seam gas in Queensland“, found that the economic impact of CSG development is akin to other natural resource developments, but the socioeconomic impacts differ as a result of the dispersion of the resource and the need for coexistence with landholders.
The oil and gas industry has welcomed the report, as it recognises the economic importance of Queensland’s coal seam gas industry.
According to APPEA, the report says the “headline economic impacts of CSG development in Queensland to date are found to be net positive, and are attributable to increases in employment, income, output, consumption and government revenue.”
APPEA Chief Executive, Dr Malcolm Roberts, said the benefits of world-first CSG-LNG projects would never have materalised without political leadership and community efforts to work, liaise with and understand how natural gas is produced and used.
“The report acknowledges the role governments have played in fostering good relationships between communities, industry and rural landholders,” Dr Roberts said.
“Sensible policies and regulations that provide certainty to all stakeholders are now bearing fruit.
“The economic benefits from gas production and export will last for decades.
“We must continue to be good neighbours in regional areas through support and ongoing consultation.”
Almost $1.4 billion worth of LNG has been exported from Queensland this year.
This contributed to a 15.7 per cent increase in the nominal value of the state’s overseas merchandise exports in the August quarter, compared to the same period last year.