Submission on the Future Gas Strategy: draft offshore guidelines consultation
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26 May 2025
To: Department of Industry, Science and Resources
Re: Submission on the Future Gas Strategy: draft offshore guidelines consultation
Thank you for the opportunity to provide input on the draft offshore guidelines.
IEEFA is an independent energy finance think tank that examines issues related to energy markets, trends and policies. The Institute’s mission is to accelerate the transition to a diverse, sustainable, and profitable energy economy.
The offshore guidelines play an important role in implementing Australia’s environmental regulations with respect to offshore petroleum developments. However, the guidelines are also likely to affect other industries, namely fisheries and tourism, given the potential impacts of offshore petroleum developments on fish stocks and coastal amenity.
Oil and gas production is also a significant contributor to methane emissions, which in turn comprise a sizeable share of Australia’s greenhouse gas (GHG) emissions. This share is forecast to increase over the next 10 years. The guidelines should address how future oil and gas projects will be consistent with Australia’s methane pledge and emission reduction targets.
Our submission mainly focuses on issues related to decommissioning offshore infrastructure, and methane venting and flaring.
Our comments are provided in the following pages. Please do not hesitate to contact us to discuss any of the matters raised in this submission.
Regards
Joshua Runciman, Lead Analyst, Australian Gas, IEEFA
Kevin Morrison, Energy Finance Analyst, Australian Gas, IEEFA
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