This strategy maps the Australian government’s plan for how gas will support the economy’s transition to net zero, in partnership with the world. The strategy is supported by the Future gas strategy analytical report, which provides the Australian government’s assessment of the latest available evidence.

The strategy is centred on six principles that will underpin government policy on gas:

1. Australia is committed to supporting global emissions reductions to reduce the impacts of climate change and will reach net zero emissions by 2050.
2. Gas must remain affordable for Australian users throughout the transition to net zero.
3. New sources of gas supply are needed to meet demand during the economy-wide transition.
4. Reliable gas supply will gradually and inevitably support a shift towards higher-value and non-substitutable gas uses. Households will continue to have a choice over how their energy needs are met.
5. Gas and electricity markets must adapt to remain fit for purpose throughout the energy transformation.
6. Australia is, and will remain, a reliable trading partner for energy, including LNG and low emission gases.

The strategy identifies the following actions:

• Prevent gas shortfalls by working with industry and state and territory governments to encourage more timely development of existing gas discoveries in gas-producing regions.
• Reduce gas-related emissions by working with industry and regulators to minimise venting and flaring of methane from operations and consider further emissions reductions measures through the Government’s six decarbonisation plans. The Government will also adopt technology-neutral approach to exploration data acquisition to minimise seismic surveying where possible.
• Support households and businesses through the transition to net zero by working closely with the states and territories to manage pricing impacts and the Gas Market Code.
• Empowering First Nations peoples by clarifying consultation requirements for offshore resources activities and pursue benefit-sharing to ensure First Nations people are partners in the transition to net zero.
• Promote geological storage of CO2 and support our region’s transition to net zero by releasing acreage for offshore CCS and establish a new initiative on regional cooperation on transboundary carbon capture and storage which will provide options for energy security and carbon management solutions for our regional partners.