Goal: South Australia to source and use more South Australian gas to generate its own electricity, increasing the state’s self-reliance.
A range of measures is being introduced to incentivise exploration for gas.
Sourcing more local gas
To meet the increasing level of gas-fired generation, the State Government is investing to unlock more of South Australia’s abundant gas resources.
South Australia has vast untapped gas resources. It is estimated the Cooper Basin alone could potentially supply Australia’s energy needs for more than 200 years.
The Plan for Accelerating Exploration (PACE) grant-supported projects are estimated to generate $198 million in prospective expenditure.
The State Government will immediately provide an extra $24 million for a second round of funding to incentivise companies to extract even more gas and create more jobs. This new round will open immediately.
This will increase the supply of South Australian gas into the local energy market. South Australian energy generators, industry and households will have first offering.
Royalties for landowners
A new PACE Royalties Return Scheme will provide 10 per cent of royalties to landowners whose property overlies a petroleum field which is brought into production, opening up new exploration across South Australia.
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