“Extraordinary” No royalties paid on 56% of gas exported from Australia | Video
Gas companies are meant to pay royalties for the right to extract and sell Australian gas. But no royalties are paid on 56% of gas exported from Australia. Report author Mark Ogge joined ABC News to discuss.
A new report from the Australia Institute, Australia’s Great Gas Giveaway, shows that over the last four years, multinational companies made $149 billion exporting royalty-free gas.
Australians have missed out on at least $13.3 billion in revenue that could have been raised over the last four years had royalties been charged on royalty-free gas.
Related research
Between the Lines Newsletter
The biggest stories and the best analysis from the team at the Australia Institute, delivered to your inbox every fortnight.
You might also like
6 gas facts to help you cut through fossil fuel spin
There’s a lot of misinformation in the debate surrounding Australia’s gas industry. To be clear: the world cannot afford for new gas projects (or any other fossil fuel projects) to be opened if we want to avoid dangerous climate change.
Gas exports: 56% given to corporations royalty-free
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.
Zero royalties charged on $111 billion in WA gas sales
Australia Institute research has found that 73% of gas exported from WA attracts zero royalty payments, effectively giving a public resource to multinational gas corporations for free.