Australia is losing its competitive edge in attracting investment in natural gas exploration and production, threatening the nation’s energy security, economic growth and emissions reduction targets, a new report by Wood Mackenzie has found.
The ‘Australia’s Natural Gas Investment Competitiveness’ report found that while global investment in gas exploration has grown by nearly 30% in the past five years, investment in Australia is lagging with just 15% growth recorded over the same period.
The analysis included a CEO sentiment survey of Australian gas producers. 95% of those surveyed believe Australia is a less attractive place to invest today, compared with five years ago. More than 95% of those surveyed reported direct investment impacts from changing government policy and regulatory settings, and one in five affected projects were either…
