Australia Institute research has found that 56% of gas exported from Australia attracts zero royalty payments, effectively giving a public resource to multinational gas corporations for free.
Around 80% of Australia’s gas is exported as liquefied natural gas (LNG). Most of this gas is extracted from Commonwealth waters, but the Australian Government chooses not to charge royalties on gas feeding six of the seven LNG export terminals operating in Western Australia and the Northern Territory.
Over the last four years, multinational companies made $149 billion exporting gas they got for free. If royalties had been charged on this gas, at least $13.3 billion in revenue could have been raised and used to increase living standards of Australians by funding schools, hospitals, renewable energy, and other needed public infrastructure.
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It’s time Australians got a fair return for its petroleum resources. Add your name to the petition calling on the Australian Government to impose royalties on all gas exported from Australia.
Watch Now
“The Australian public thinks the gas industry should be paying for the gas. We can keep doing dumb things if we want to. But if this Government wants to have more money for schools, more money for hospitals…there is a simple tax reform opportunity here.”
Dr Richard Denniss, Executive Director of the Australia Institute joins ABC’s The Business to discuss our new research.
Learn More
New Research: Australia’s Great Gas Giveaway
Myths Busted: Gas Industry Claims Debunked
Gas in WA: The Economic Reality