SANTOS has hit out at the increasing number of regulatory hurdles facing Queensland's gas export industry, warning that Australia could lose out to other nations such as the US, where moves to export gas amid decade-low prices are growing rapidly.
Comments made by the company's Gladstone LNG president Mark Macfarlane come as Santos applies for government approval to drill a further 4100 onshore coal seam gas wells in Queensland to supply its $16 billion Gladstone LNG project.
"Santos supports robust risk-based regulation but unnecessary delays due to complex regulatory and approval processes, increased costs through regulatory burden, as well as non-market-based constraints will create opportunities for alternative suppliers," Mr Macfarlane told a lunch in Brisbane yesterday.
"In recent times we have seen environmental regulation and regulatory processes for our industry balloon disproportionate to environmental risks.
"Australia needs to maintain its international competitiveness to ensure that these long-term projects remain economic."
Yesterday, Santos said it had applied for approval to develop 4100 CSG wells on top of the 2650 wells it already had approval to drill to supply the GLNG project.
The Australian
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