Anthony Albanese rejected suggestions the stalling of Senex Energy’s $1 billion Atlas gas project in Queensland will stymie investment.
Prime Minister Anthony Albanese has attacked suggestions a 12-month cap on gas prices will stymie new investment, labelling criticism a “campaign” against his government’s policies aimed at lowering household bills.
Mr Albanese’s comments come after gas producers said the $12 a gigajoule cap on prices that came into effect this week was a heavy-handed intervention and a “radical” move putting future investment at risk. Prime Minister Anthony Albanese: “The price cap of $12 [a gigajoule] for gas is time limited it does not apply to new projects, and people are very aware of that.”But when asked whether a stalling of Senex Energy’s $1 billion Atlas gas project in Queensland,, proved the critics right, Mr Albanese hit back.
“No, it doesn’t at all,” he said on Friday. “What it proves is there’s an ongoing media campaign. The truth is there is no impact on new investment of any proposition that went through the parliament. “The price cap of $12 [a gigajoule] for gas is time limited, it does not apply to new projects, and people are very aware of that.“Given the average price of gas was under $10 [a gigajoule] in 2021 and 96 per cent of deals were for under $12 [a gigajoule] then if an investment made sense in 2021 then it will make sense in 2023.”
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