Statement attributable to Australian Energy Producers Chief Executive Samantha McCulloch:
Australia’s reputation among international investors centres on its ability to provide certainty and stability, both of which are important for our global competitiveness and valued long-term relationships with international customers and investors.
Important energy projects which are following the rules, consulting in good faith and being granted approvals by the regulator are being impacted because unclear regulations and the application of them are effectively changing the goal posts. The time delays and costs incurred are substantial.
More obstacles are being put in the way of critical energy developments, risking the new supply needed to deliver domestic energy security, emissions reductions and substantial economic returns for Australians.
Comprehensive and effective consultation with Traditional Owners and landholders has been an important part of the work of Australia’s oil and gas industry going back decades.
Regulations which provide clarity and certainty for industry while maintaining consultation obligations are desperately needed.
Governments must make clear regulations for consultation that maintain high standards of consultation with stakeholders, including Traditional Owners, but also provide regulatory certainty when an approval is granted.
Investors in Australia’s resources sector face increasing approvals uncertainty after today’s court decision, compounding the uncertainty stemming from last year’s decision against a regulatory approval for the Santos Barossa Project.
