Zaneta Mascarenhas (Swan, Australian Labor Party) Share this | Hansard source

I am open to a conversation about how sometimes the gas industry does not work for all Australians. This is a government that believes in the national interest and is not afraid to stand up for it. Similarly, antagonising industries that Australia relies on is not the answer. We will defend the public interest in the names of jobs and energy security. I know this because I remember when, before Labor governments state and federal, in WA 15 years ago, we had $170 billion' worth of LNG projects happening in the North West Shelf but not one of those projects was being developed in WA. Hundreds of engineers lost their jobs, and the workshops were empty. That experience taught me something important: when governments fail to plan, Australians pay the price. We cannot afford to repeat the mistakes.

Today the Albanese Labor government is taking gas supply and energy transition seriously. We know that gas markets must work for households, businesses and our economy, not just for exporters. That is why we opened a comprehensive gas market review earlier this year. We received 112 submissions, and the departments are now working through them to make sure our regulatory framework is strong, stable and fit for the future. We have acted.

Since coming into government, we have strengthened the heads of agreement with LNG producers so gas is offered to Australians before it can be exported. We have reformed the Australian domestic gas security mechanism, giving us the power to reserve gas if there is a shortfall. We have also introduced the gas market code, securing more than 644 petajoules of gas for Australian homes and businesses. Given the market operator's stronger powers to prevent supply crises, let's be clear, there's been no gas shortfall under this government. We are delivering practical solutions to keep gas affordable, reliable and, at the same time, we are driving the transition to clean energy. We've legislated emissions targets, reformed the safeguard mechanism and invested in renewable energy at record rates. Since May 2022, we have added over 18 gigawatts of wind and solar, enough to power six million homes. Wind and solar capacity is up 45 per cent since we came to office.

But while we accelerate renewables, we do not ignore the five million Australian homes that still rely on gas for heating, cooking and hot water. Industries also need gas to process critical minerals and to manufacture batteries, solar panels and wind turbines. Gas, unlike coal, is flexible. It can be switched on and off in minutes, making it essential to back up the variable renewable energy generation. Our future gas strategy makes this clear. As existing sources decline, we need to replace them to keep prices down, keep the lights on and maintain energy security.

The Albanese government is not a caricature the opposition makes us out to be. However, the opposition does beggar belief lately, especially regarding gas, energy and resources. How is this certainty for industry and households—net zero or maybe not net zero, or definitely not net zero? That is possibly in Paris or not in Paris, if the National Party will let them. We won't sugar coat it. We're too exposed, we were too exposed leaving COVID, when the war in Ukraine began a global gas price shock and exposed the weaknesses. Sometimes there is still too much exposure. Thanks to a decade of neglect by the opposition, we are fixing the mess, planning for the future and doing it in a way that supports jobs, industries and households.

We know gas will play a key role in the orderly transition to net zero. We are ensuring that Australians also have the energy they need, while preparing for tomorrow. When people say that the government isn't taking gas supply or energy transition seriously, we must look at the facts and recognise that defending the national interest cannot be done with just ideals. We are guided by real consultation and experts and we work constructively with industry to get results. I note that when we needed to intervene into the gas market and cap prices at $12 a gigajoule, we did that to make sure we help Australians because that's what the Albanese government does.

Debate adjourned.

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