Senex Energy pours $1 billion into QLD gas sector

Article by Timothy Bond, courtesy of Energy Today

Senex Energy has pulled the trigger on the $1 billion expansion of its Atlas and Roma North natural gas developments in Queensland’s Surat Basin.

The expansion will boost domestic natural gas supply on the east coast from 2025, helping keep the lights on in households and workplaces.

“Senex’s expansion will deliver 60 petajoules of natural gas each year to the east coast market from the end of 2025 which represents more than 10 per cent of annual east coast domestic gas requirements,” Senex CEO Ian Davies said.

“The expansion will drive a significant boost in natural gas supply for Australia, demonstrating Queensland is continuing to do the heavy lifting for the east coast.”

According to Australian Energy Producers, almost one-third of gas consumed in Australia is used in manufacturing, a $100 billion sector which indirectly employs almost 900,000 people. Projects like Atlas and Roma North are consequently important to the vitality of the industry.

Davies said the expansion will help ease current pressures that the east coast energy system is currently experiencing.

“The Federal Government has made it clear that gas is required until 2050 and beyond, and that investment in new gas supply is needed if we are to reach net zero with thriving industries,” he said.

“Current energy system pressures and forecast gas shortfalls in coming years highlight the urgent need for more reliable natural gas supply in our energy system.

“The only real solution to the forecast shortfalls and price pressures is more supply. And that is exactly what Senex is announcing today.”

The expansion has been on hold for more than 18 months due to a lengthy and comprehensive approvals process. But with all major approvals now in its belt, Senex can proceed as planned.

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