A Domestic Gas National Interest Test

A Shorten Labor Government will introduce a Domestic Gas National Interest Test for new Liquefied Natural Gas (LNG) facilities to ensure exporting natural gas is in the interests of all Australians.

THE HON CHRIS BOWEN MP
SHADOW TREASURER
MEMBER FOR MCMAHON

THE HON JASON CLARE MP
SHADOW MINISTER FOR RESOURCES
SHADOW MINISTER FOR COMMUNICATIONS
MEMBER FOR BLAXLAND

THE HON MARK DREYFUS QC MP
SHADOW ATTORNEY GENERAL
SHADOW MINISTER FOR THE ARTS
MEMBER FOR ISAACS

A DOMESTIC GAS NATIONAL INTEREST TEST

A Shorten Labor Government will introduce a Domestic Gas National Interest Test for new Liquefied Natural Gas (LNG) facilities to ensure exporting natural gas is in the interests of all Australians.

After nearly three years in government the Liberals have refused to recognise the impact soaring LNG exports are having on Australian businesses. We want to protect local LNG exporters, local manufacturing businesses and households.

Australia will reap great rewards from LNG exports over the coming years, as China reduces its reliance on coal and embraces cleaner energy sources. Australia will soon overtake Qatar as the world’s biggest exporter of LNG.

Soaring demand for Australia’s gas will mean higher prices, and that could deliver a serious blow to households around Australia. It is also a concern for manufacturing businesses, who rely on a predictable source of gas to compete and thrive.

That’s why we need to have the checks and balances in place to ensure Australian manufacturing isn’t squeezed out along the way.

If elected, we will follow the lead of other gas-rich nations, including the United States and Canada, and introduce a Domestic Gas National Interest Test for new or significantly expanded natural gas export facilities.

A National Interest Test will help Australia’s gas exports continue to flourish, and ensure that all the economic costs and benefits are considered when assessing LNG project expansions.

The proposed National Interest Test will be administered through a new Domestic Gas Review Board. Activities that will trigger the Test include:

  • A new liquefied natural gas export facility.
  • A significant expansion of an existing natural gas export facility.
  • A significant material expansion of supply, including from existing domestic supply, to an existing natural gas export facility.

The Board will consider the application and make an assessment based on whether the application is in the national interest, taking into account a broad cost-benefit analysis that considers economic, strategic, social, regional, industrial and employment impacts, as well as the maintenance of a strong and viable natural resources industry. The Board will then make a formal recommendation to the Treasurer for consideration.

Only Labor is prepared to make the decisions that will support Australian jobs and a vibrant manufacturing sector.

For more information about Labor’s plan for a Domestic Gas National Interest Test, visit: here: www.100positivepolicies.org.au/a_national_interest_test_for_australias_gas

WEDNESDAY, 18 MAY 2016