Gas Acceleration Program

The $26 million Gas Acceleration Program (GAP) program will accelerate the development of onshore Australian gas resources to improve supplies to domestic gas consumers.

GAP competitive grants support projects with the greatest likelihood of securing new and significant volumes of gas for domestic gas consumers by 30 June 2020. The successful applicants were announced 28 March 2018.

The four new projects will supply an extra 12.4 petajoules of gas to the East Coast market by 30 June 2020 and an extra 27.6 petajoules over five years.

Background

The GAP is part of a suite of measures designed to improve the accessibility and price of domestic gas, which have been identified as key risks for Australian business competitiveness and cost of living pressures.

A tight supply-demand outlook, and other factors such as links to international export markets, ageing infrastructure and state and territory bans, are resulting in a higher ‘normal’ gas price and constrained availability. Higher energy and input costs for industry, particularly trade exposed companies, could lead to the potential movement of jobs offshore. Higher prices also affect the ability for gas fired generation to offer sustainable, reliable electricity generation options during the transition to lower emissions.

More information

For further information please visit:

Contact

resources@industry.gov.au

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