Shell is committed to developing Australia’s gas resources in a timely and economic manner and expects to invest around $30B over the next five years.
Shell is both an upstream and downstream business and welcomes the direction provided through the EWP.
In particular the company was pleased with the government’s acknowledgement that the energy sector in Australia is facing cost pressures that are impacting international competitiveness.
Shell welcomes the government’s assessment that the market is the best driver to determine energy prices, particularly natural gas, with domestic gas reservation policies being ineffective in ensuring domestic gas supply.
Intervention in domestic gas markets would be counter-productive for both supply and prices, as they would discourage innovation and investment especially in dedicated domestic gas projects.
Shell Australia appreciates the recognition in the EWP of the growing international competition for liquid fuel production, with new mega refineries in Asia providing competitive pressure to local refineries.
The company is confident the existing robust supply chain will ensure security of supply at internationally competitive prices.
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Quotes can be attributed to Ann Pickard, Shell Australia Country Chair