Oil and Gas News

APPEA zeroes in on industry emissions aspiration

Australia’s oil and gas industry has reaffirmed that it is committed to playing a key role in a cleaner energy future in the third edition of APPEA’s climate change policy principals.

A key focus of the principles is on how climate policy should be cohesive with other energy, international, trade, taxation, economic growth and environmental policies.

The sector also supports government policies and industry actions to get the economy to net zero emissions by 2050.

APPEA chief executive Andrew McConville said Australia’s oil and gas industry had a consistent policy on climate change for more than 15 years and endorsed a national policy approach that supported both environmental objectives and industries that provide jobs and economic growth.

“The oil and gas industry supports a national climate change policy that delivers greenhouse gas emissions reductions, consistent with the objectives of the Paris Agreement and with net zero emissions across the Australian economy by 2050 as part of a contribution to a goal of global net zero emissions by 2050,” McConville said.

“Greater use of Australian natural gas – in the domestic market and LNG exported globally – can significantly reduce greenhouse gas emissions both here and abroad.”

The four key areas outlined in APPEA’s climate change principals include: net zero emissions by 2050 should be the goal of national and international policy; climate policies should be efficient, enduring and integrated with economic, social, technology and energy policies; Australia’s international competitiveness should be enhanced; and universal access to affordable, reliable, sustainable and modern energy must be achieved.

McConville added that a number of oil and gas producers in Australia and around the world were embracing net zero emissions targets as an important step forward.

“This is a positive demonstration of the key role the industry can play in a cleaner energy future,” McConville said.

“It’s encouraging to see the entire industry is moving in the same direction by producing a lower emission energy source and taking action to reduce their own emissions.”