Ann: Litigation Update, page-55

Gentlemen,
This is part of an announcement by Armour Energy. I'm amazed that there's actually someone in Govt. that appears to be capable and speaks common sense. Enjoy.

The East Coast gas market will be boosted with additional supplies of gas from four projects to be funded under the Australian Government’s $26 million Gas Acceleration Program (GAP).

Minister for Resources and Northern Australia Matt Canavan said the projects would supply an extra 12.4 petajoules of new gas to the East Coast market by 30 June 2020 and an extra 27.6 petajoules over five years.

Minister Canavan said this extra supply would help safeguard Australia’s future gas security.

“Gas is vital to Australia’s energy security as a fuel, as a feedstock for industry, and as a source of energy generation,” Minister Canavan said.

“We must continue to invest in the gas sector to ensure a secure, reliable and affordable gas supply. Bringing more gas to market will help Australian businesses remain competitive, create more jobs and reduce cost of living pressures on all Australians.

“While Australian Government measures like the Australian Domestic Gas Security Mechanism and the Prime Minister’s agreement with LNG exporters in October 2017 have helped to address domestic gas supply in the short term, the only way to provide gas security into the future is by increasing the supply of gas through increased development.

“We can access our plentiful gas resources in a responsible and balanced way, using the best available science. I encourage all States and Territories with limitations on gas projects to rethink their blanket bans.

“The GAP is fast tracking projects with the best prospects of bringing significant new gas volumes to target markets by mid-2020.”

The funded projects include:  the Kincora Gas Acceleration Project—Armour Energy (Surat Basin) Pty Ltd—will receive a $6 million grant towards a $16.1 million project to drill three additional production wells at the Kincora Gas Plant in Queensland, delivering an estimated