Speaking at the Australian Petroleum Production and Exploration Association (APPEA) Conference being held in Perth this week, Mr Coleman said the oil and gas industry had “lost the trust of the public”.
Touching on the east coast gas supply crisis, Mr Coleman said it made Australia question itself over whether it was an advanced economy with high living standards.
“It is clear that gas markets, left to their own devices, do not always ensure domestic supplies,” said Mr Coleman.
“To put it bluntly, we need to ensure some of the resources we develop are available for Australian consumers, and available at a price that is sustainable for both consumer and customer.”
He said the Federal Government must have a clear vision for the nation’s energy security, and that using “blunt instruments in response to short term pressures” would get nowhere.
Browse development
Mr Coleman also gave the APPEA delegates an insight into Woodside’s planned development of the Browse gas fields, over 400 km off the coast of North West Australia.
He revealed that Woodside is planning a US$25 billion development of the fields and is targeting an investment decision in late 2019 or early 2020.
The plan is to pipe the gas over 900 km to Woodside’s North West Shelf LNG Karratha Gas Plant.
Woodside dropped plans for developing the fields using floating LNG (FLNG) technology early last year.
“The project has moved from being a US$75 billion-plus project at James Price Point to one that is about one third of that,” said Mr Coleman.
“The moons are lined up for Browse to come through the North West Shelf.”
Participants in the Browse Joint Venture include Woodside as operator, Shell Development Australia, BP Developments Australia, Japan Australia LNG (MIMI Browse) Pty Ltd and PetroChina.
