Australia’s Albanese Says Natural Gas Investment Shouldn’t Be Curbed
- Government faces criticism for proposal to curb gas exports
- Country also seeking to cut emissions from largest polluters
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Australia’s natural gas industry should be permitted to follow the most promising returns on capital, Prime Minister Anthony Albanese said in his first defense of the industry since his government proposed tightening export rules.
Natural gas will need to play a bridging role as intermittent renewable generation increasingly replaces the nation’s aging coal plants, and more of the fossil fuel will be needed, Albanese said Tuesday at the Australian Financial Review Business Summit 2023. The government’s role is to set the framework and make environmental assessments, letting corporations make their own capital allocations beyond that.