Companies exporting liquified natural gas from Australia have made windfall profits close to $100 billion since 2022, when energy prices spiked because of Russia’s invasion of Ukraine. Most of these profits are based on royalty-free gas and no Petroleum Resource Rent Tax was paid. At best, $20 billion in company tax was paid on this

Australians are being ripped off by gas export corporations.

Over half of Australia’s gas exports are given away, without payment of royalties or Petroleum Resource Rent Tax. Over the last four years, multinational companies made $170 billion exporting gas they got for free. Based on Federal Government forecasts, to 2030 another $170 billion of liquified natural gas will be exported based on free gas.

Wholesale gas and electricity prices have tripled in Western Australia since 2020, when the WA government first permitted exports of domestic gas, linking the domestic and international markets. Approval for the Woodside’s proposed North West Shelf Extension will lock in this link for the long term, leading to increased costs for West Australian households and

If Western Australia was a country, it would be the world’s third largest exporter of liquefied natural gas (LNG). Yet, despite the huge amounts of gas produced in WA annually, recent media reports claim the state is heading for a gas shortage. How can WA be running short of gas when it is a globally

According to the Australian Government’s Future Gas Strategy, gas is “critical” to the nation’s economy. In view of this, many Australians might be surprised to learn that a large amount of the country’s gas reserves are essentially being given away for free.

Woodside’s North West Shelf Extension has not identified sufficient gas supply for its export capacity. This is already resulting in applications to divert domestic gas to the export terminal. This will permanently destabilise WA’s domestic gas market.

According to the Australian Government’s Future Gas Strategy, gas is “critical” to the nation’s economy.

Royalty revenue from WA gas exports has halved in the past two years and now makes up just 1.5% of budget revenue.

WA is a globally significant gas exporter, but gas is insignificant in the WA economy.

Submission to Senate Standing Committees on Economics inquiry into the Treasury Laws Amendment (Tax Accountability and Fairness) Bill 2023 [Provisions].

Offshore gas must not bypass genuine consultation with traditional owners or the wider community. Adequate consultation will always challenge the crumbling social license of fossil fuel operations – perhaps that is why there are proposals to “clarify and improve” consultation and approvals?

Gas development has few economic benefits beyond those that flow to the gas industry itself. The industry is a small employer, systematic non-payer of tax and crowds out other industries.

The NT LNG facility aims to produce up 20 million tonnes of LNG per year for export using gas fracked from the Northern Territory’s Beetaloo Basin.

There are 116 new fossil fuel projects on the Federal Government’s annual Resource & Energy Major Project list, two more than at the end of 2021. If all proceed as estimated, they will add 4.8 billion tonnes of emissions to the atmosphere by 2030.

Energy prices spiked worldwide following Russia’s invasion of Ukraine and the resulting restrictions on Russia’s gas exports. This has in turn increased the value of Australian LNG exports and the profits of LNG companies. We estimate the war related windfall gain to LNG companies in 2021-22 at between $26 billion and $40 billion.

The Australia Institute welcomes the opportunity to appeal Report 1727 North West Shelf Project Extension Proposal. The role of the Western Australian Environmental Protection Authority (EPA) is to prevent, control and abate pollution and environmental harm. In recommending the approval of a 50-year extension of Australia’s most polluting fossil fuel project, the North West Shelf

Despite being labelled as ‘clean energy’, none of the emissions HESC has produced in its pilot phase have been buried through Carbon Capture and Storage.

Five of Australian Petroleum Production & Exploration Association’s (APPEA) most prominent member companies have paid no income tax for at least the past seven years despite combined income from their Australian operations of $138 billion. A sixth company, Santos, paid just $6 million on $28.9 billion of income, and paid no income tax from 2015

Freedom of Information documents show that when designing the ERF CCS method, the Clean Energy Regulator consulted almost exclusively with fossil fuel companies and big emitters, while actively excluding independent researchers.

The Australia Institute made a submission on Santos’ proposed Darwin Pipeline Duplication project that aims to facilitate carbon capture and storage in the oil and gas fields north of Darwin. Aside from the low likelihood of successful carbon capture and storage eventuating, the aim of the project appears to be to increase gas exports through

Santos is trying to access Australia’s small amount of climate funding to subsidise increased fossil fuel extraction through a highly polluting activity known as enhanced oil recovery (EOR) – a process Santos has been using continuously since the mid-1980s. Numerous company documents show that Santos’ Moomba CCS project includes EOR and Enhanced Gas Recovery (EGR).

The offshore oil and gas industry provides minimal economic benefit to the Australian community. Any benefits are eroded by decommissioning costs falling on governments as the industry attempts to avoid its liabilities. The proposed levy represents an opportunity to limit the costs to the public from the Northern Endeavour disaster, further measures are needed to protect the public interest.

Australia’s target of net zero emissions by 2050 is inconsistent with its plans to massively expand coal and gas production. New fossil fuel projects under development in Australia would result in 1.7 billion tonnes of greenhouse gas emissions each year – equivalent annual emissions of over 200 coal-fired power stations, twice as much as global

The draft offsets policy undermines the NT Government policy of adopting Fracking Inquiry Recommendation 9.8 – that all life-cycle emissions from onshore gas projects be offset. The draft policy also proposes ‘indirect emissions offsets’ that are not utilised in any other jurisdiction and would be entirely without integrity. Indirect offsets would undermine other offset markets

The Senate Economics References Committee is conducting an inquiry into Australia’s oil and gas reserves. The Australia Institute welcomes the opportunity to make a second submission to this inquiry highlighting recent research on Australia’s oil and gas that relate to the inquiry’s terms of reference published since the original submission. As such it should be

Unconventional gas in the Northern Territory is unpopular and uneconomic, risking water resources, the climate and taxpayer funds. It provides little revenue and very few jobs. Government-commissioned studies show this is unlikely to change under modelled production scenarios. The recommendations of the Territory’s fracking inquiry are not being met, particularly information programs for Aboriginal people

Australia’s Emissions Reduction Fund will soon incorporate carbon capture and storage projects. The design and development of the CCS ERF method lacks integrity and independence. The proposed method will allow industry to sidestep regulation, enable new gas and oil projects to exist where they otherwise would not have, and result in more emissions being emitted