The Australian Energy Markey Operator has dramatically downgraded its estimate of future gas demand on the east coast to the point where coal seam gas reserves in New South Wales no longer need to be developed.
AEMO's Gas Statement of Opportunities 2015 reduces forecast gas demand on the east coast by 17%, and concludes that there is no approaching supply gap for New South Wales.
Lock the Gate New South Wales Coordinator, Georgina Woods said, “AEMO’s dramatic revision down of projected gas demand calls for a complete redrafting of New South Wales onshore gas policy. The basis for the Government's support for developing unsafe unconventional gas mining in rural areas was the expectation of a supply gap that we now know is not going to occur.
“Without gas demand, there is no need for the Gas Plan and no justification for industrialising New South Wales farmland and putting water resources at risk from invasive gasfields. There is no supply gap expected in NSW and the Government's policy must be changed accordingly.
“It's a relief to know that NSW now has the time to put a stop to all coal seam gas development and respond in full to all of the Chief Scientist's recommendations. The dash for gas is over.
“The results of the state election gave the Government a political mandate to stop unconventional gas development and now they have an economic one too. We’re calling on the Premier and Minister Roberts to respond accordingly and give the people of NSW a gas ban to replace their failed Gas Plan.”