Ken O'Dowd (Flynn, National Party) Share this | Link to this | Hansard source

Today, I want to praise the gas industry for the benefits it has given to my electorate of Flynn and which it will continue to give for at least the next 25 years.

Two major announcements last week gave a further vote of confidence to the LNG industry. These will directly benefit the Surat Basin—Taroom and Wandoan; the Bowen Basin, at Moranbah; and Gladstone, where there are three gas plants that are ready to hit peak production in early 2016. And up to last week QGC had also dispatched 62 gas tankers to overseas markets and Santos and their partners have had their first shipment go out of Gladstone, and ConocoPhillips and partners are about to start at the end of November with their first shipment of gas.

The first announcement by QGC was that of 1,600 jobs and an investment of $1.7 billion in construction of 300 to 400 new wells. This will incorporate a large compression station and pipeline, and will feed into the existing infrastructure. The announcement follows receipt of the Commonwealth and state government environmental approvals. The approvals for this 'Charlie development' will add benefit and life to local communities, and will benefit all.

The second announcement relates to the ACCC giving Shell a clear run for a takeover of British Gas. That is worldwide, and it is a $91 billion takeover bid. This bid paves the way for the development of the state's biggest untapped gas resource, the Arrow project. There are a lot of gas reserves in and around that Moranbah area, which I mentioned before. The takeover still needs approval from the FIRB and China's Ministry of Commerce.

A pipeline from Moranbah to Gladstone has been planned for many years. This is on top of the $65 billion already invested in the gas plants in Gladstone. Construction jobs are now winding back, and the company has moved into their production mode. Thank you.