AGL ENERGY LTD AGL Energy Limited (AGL) today welcomed the NSW Government's Gas Plan as it recognises the need to secure local gas supplies for the people of NSW.
With only five percent of the state's gas needs being produced locally at AGL's gas plant in Camden, there is an urgent need to tap into indigenous supplies of gas for households, businesses and in particular the NSW manufacturing sector.
AGL is currently undertaking a natural gas exploration pilot in Gloucester to test the gas flow from coal seams for a project that could potentially supply an additional 15 percent of NSW's gas needs.
"AGL has made it clear that the gas from our NSW projects will be for NSW and not exported overseas," said Managing Director and CEO Michael Fraser.
"We support the NSW Government's Gas Plan as it is a sensible approach to securing much-needed local supplies of gas for our customers.
"The Australian Energy Market Operator has predicted NSW users could face gas shortages in the next few years. Likewise AGL's own economists demonstrated in a research paper recently that the state is facing a gas supply cliff as soon as 2017 unless we find new supplies. And the impact on manufacturing if we don't could be devastating.
"We have the answer and it's under our feet ready to be produced safely with strict adherence to NSW regulations, which are among the toughest in the world."
Mr Fraser said, while the plan has a renewed focus on regulatory oversight and safety, AGL often went "above and beyond" what is required, including thorough and comprehensive water monitoring, double lined ponds and air emissions testing.
"We will continue to work closely with the regulatory oversight bodies in meeting any new environmental and safety standards," he said.
AGL has been closely working with the local communities in our project areas for many years and supports the Government's proposed establishment of a Community Benefits Fund which will allow voluntary contributions.
"It's only fair that local people and businesses share in the benefits the resources bring to the state and the fund is another way AGL can positively contribute to the communities where we work."
About AGL
AGL is one of Australia's leading integrated energy companies and largest ASX listed owner, operator and developer of renewable energy generation in the country. Drawing on over 175 years of experience, AGL operates retail and merchant energy businesses, power generation assets and an upstream gas portfolio. AGL has one of Australia's largest retail energy and dual fuel customer bases. AGL has a diverse power generation portfolio including base, peaking and intermediate generation plants, spread across traditional thermal generation as well as renewable sources including hydro, wind, landfill gas and biomass. AGL is taking action toward creating a sustainable energy future for our investors, communities and customers.|
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