Offshore gas exploration

The Australian Government is advancing offshore gas exploration to bolster energy security and support the transition to net-zero emissions by 2050. New permits have been issued for companies like Esso, Beach Energy, and Chevron, particularly targeting the east coast amid warnings of potential gas supply shortfalls by 2027. Resources Minister Madeleine King emphasized gas's critical role in stabilizing renewable energy generation as coal plants retire, although environmental groups criticize the policy for prolonging fossil fuel reliance. A total of ten permits for carbon capture and storage (CCS) projects will also be explored, drawing skepticism regarding their effectiveness. Critics argue that these measures threaten marine ecosystems and may hinder genuine emissions reduction efforts. The government aims to achieve 82% renewable electricity generation by 2030, but faces backlash for its continued investment in gas exploration.