SYDNEY, May 9 (Reuters) - Australia's resources minister
said on Thursday she backs the long-term exploration of
potential natural gas projects, setting up a potential clash
with opposition lawmakers and some in the incumbent Labor Party
that oppose its use.
Australia, one of the world's largest producers of liquefied
natural gas (LNG), is committed to reducing its emissions to net
zero by 2050.
But Resources Minister Madeline King said in a column in the
Australian Financial Review on Thursday, ahead of the launch of
the government's Future Gas Strategy, that "gas is needed out to
2050 and beyond."
"The energy transformation will take time - it will take
investment in renewables, new industry processes, new
technologies," she said.
Australia supplies around a fifth of global LNG supply
shipped last year, with the largest projects run by Chevron ( CVX )
and Woodside Energy Group ( WDS ) in Western Australia.
Woodside is developing the Scarborough LNG project in
Western Australia and the Beetaloo Basin in the Northern
Territory, both of which have faced strong opposition from
environmental campaigners.
"The strategy also makes it clear that we can't rely on past
investments to get us through the next decades, as existing
fields deplete," King said.
"That will mean a continued commitment to exploration, and
an openness to the kinds of foreign investment that have helped
build the industry into the powerhouse it is today."
The Labor Party led by Prime Minister Anthony Albanese, who
faces reelection in a federal poll due next year, is reliant on
the Greens and independent lawmakers to pass legislation in the
Senate, the upper house of parliament, where Labor lacks a
majority.