Chris Bowen (McMahon, Australian Labor Party, Minister for Climate Change and Energy) Share this | Hansard source

I thank the honourable member for the question. The answer is that we are very much absolutely confirmed and determined to introduce the gas reservation policy announced by the Minister for Resources and me just before Christmas. We announced it would start on 1 January 2027, although we announced that also from the date of announcement we would regard any contracts entered into at that point as being new and therefore covered by the new regime.

The Minister for Resources and I have been consulting very deeply. We called for submissions in December. That call for submissions closed about a fortnight ago. We received, I think, 53 submissions that the minister and I have been working through very carefully. We are now engaged in detailed design. There are a number of elements that need to be determined in close consultation with industry, and by industry I don't just mean gas producers. I also mean heavy industry and gas users. We are talking to both sides of the equation, if I put it that way. That's what a good government does—consults deeply.

But ultimately the cabinet will decide the parameters of the gas reservation on the recommendation jointly from the Minister for Resources and me, and we intend to make sure it works for Australians because the gas that's under our soil and our waters should be gas that the Australian people have first rights to when it comes to the needs of heavy industry and the Australian energy system.

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