BRISBANE, Queensland, Sept. 30 -- The Queensland Department of the Premier and Cabinet issued text of the following statement:

Treasurer, Minister for Energy and Minister for Home Ownership

The Honourable David Janetzki

* Canberra'sproposedgasreservationschemeremainsflawed and underminesfuture supply. * TheCrisafulli Government calls on Canberra torelease evidencethe schemewon'tadversely impactQueensland'seconomy and threatenfuture gas supplies. * Queensland has formally submitted its response to the Federal Government's Domestic Gas Reservation Scheme warning the proposed scheme could impact regional jobs, investment and energy security.

The Crisafulli Government is backing the gas sector and calling for the Federal Governmentto addressserious flaws in its proposed Domestic Gas Reservation Schemebefore introducing new laws that threaten to undermine futuregassupplies.

Inasubmissionrespondingto the Federal Government'sDomesticGas Reservation Bill2026,Queenslandwarnedagainst thefocuson reallocating existing gas rather than encouraging new investment and supply.

The submissionacknowledgedimprovements to the scheme, including a delayed commencement for exporter obligations and longer exportlicensetermsbutreiterated any national scheme must foster investment, infrastructure and production needed to increase long-term supply.

The Crisafulli Government is seeking an independent review of market conditions by the end of 2027 to assess whether proposed legally binding obligations should commenceon 1 January 2028.

Treasurer and Minister for Energy David Janetzki said Queensland supported affordable and reliable gas for Australian households and industry, but the Federal Government had notdemonstratedthat its proposal would achieve that.

"The Federal Government has not released the evidence underpinning key elements of the scheme, while critical regulations and implementation details remain unresolved,"TreasurerJanetzkisaid.

"A requirement to forcibly supply gas above actual demand could suppress prices below sustainable production costs, weaken investmentsignalsand undermine the new supply needed for long-term affordability.

"Before this legislationproceeds,Canberramust release its evidence, consult meaningfully on the supporting regulations and proposed levy, and provide clear protection for foundational export contracts and joint venture arrangements.

"Queensland suppliesnearly 90per cent ofthe eastcoastmarket. Without Queensland, there is no domestic gas market.

"While we'reready to work constructively on a framework that supports domestic users, encourages new supplyandprotects regional jobs,wecan'tsign up to a scheme thatleaves Queensland bearinga disproportionateshare of the economicimpacts."

Queensland's gas sector is fundamental to the State's economy and national energy security, investing up to $4 billion annually, supporting 44,000 jobs and contributing $1.1 billion in royalties in 2025-26 and a forecast $1.9 billion in 2026-27.

The gas sectorremainsconcerned that the draftlawsdo not fully reflect the Commonwealth's statedpolicyintent or assurances provided during consultation.

ENDS

MEDIACONTACT:Charlie Peel,0486 186 007.

Disclaimer: Curated by HT Syndication.