Fed: Emissions trading threatens LNG jobs: Woodside

AAP General News (Australia)
04-28-2009
Fed: Emissions trading threatens LNG jobs: Woodside

By Petrina Berry

BRISBANE, April 28 AAP - The federal government's proposed emissions trading scheme
(ETS) will threaten the creation of thousands of jobs in the liquefied natural gas (LNG)
sector, a major gas company says.

Woodside Energy executive vice-president Robert Cole told the Senate Select Committee
on Climate Policy in Brisbane on Tuesday getting the design of Australia's carbon pollution
reduction scheme right was crucial.

"If we don't get the design right, independent modelling suggests Australia's natural
gas exports would be half the size by 2030," Mr Cole said.

"Australia currently produces around nine per cent of world LNG - we have the opportunity
to triple our LNG exports, but the danger here is we will forgo this opportunity."

He said the scheme as it existed threatened new investments in LNG.

"We are talking ... the loss of opportunity going forward to create jobs and investment,"

Mr Cole said.

"The lost opportunity could be tens of billions of dollars of investment and tens of
thousands of potential jobs.

"What we are looking for is full relief - full permits being allocated until our competitor
countries come on board with an equivalent regime."

Mr Cole said LNG contributed to global greenhouse gas reduction and this should be
recognised by the government in the ETS.

The committee was earlier told the ETS could cut jobs in the beef sector.

Beef processor Teys Brothers said the scheme could add $2.1 million to its Rockhampton
plant expenses, making it unviable and forcing it to shed up to 40 per cent of its workers.

The committee's report is due in May, with the laws expected to be introduced to federal
parliament during budget week and passed by June.

AAP pjo/jpm

KEYWORD: CLIMATE WOODSIDE

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