Up to $6M is available through the Gas Acceleration Program to support development of onshore natural gas for domestic gas consumers.
Gas Acceleration Program
The Gas Acceleration Program aims to accelerate the responsible development of onshore gas for domestic gas consumers. The program will encourage direct investment in natural gas (gas) developments. The program will support projects with the greatest likelihood of securing new and significant volumes of gas for domestic gas consumers located in target markets (e.g. the east coast gas market), from onshore gas fields by 30 June 2020.
The objective of the program is to:
- increase gas supply to domestic gas consumers located in target markets by assisting businesses to stimulate investment in a diverse range of projects from competing gas producers.
The intended outcome of the program is:
- to address potential gas supply shortfalls in target markets, and encourage the accelerated development of onshore gas resources.
The program will run for 3 years from 2017-18 to 2019-20.
- the grant amount will be up to 50 per cent of eligible project cost
- there is no minimum grant amount
- the maximum grant amount is $6 million
To be eligible your project must bring new gas flow to domestic gas consumers in target markets by 30 June 2020 and can include:
- deployment of new technologies or techniques to lift existing and new well productivity
- the opening of new gas pilot and/or production or exploration wells that are either in proximity to existing gas infrastructure or can demonstrate a path to market
- better utilisation of existing or the establishment of new gas processing, storage and transport facilities
- design, construction and engineering activities directly related to bringing forward new gas supply.
To be eligible you must:
- have an Australian Business Number (ABN)
- be non-tax-exempt
- be registered for the Goods and Services Tax (GST)
- be a company incorporated in Australia and a trading corporation, where your trading activities:
- form a sufficiently significant proportion of the corporation’s overall activities as to merit it being described as a trading corporation; or
- are a substantial and not merely peripheral activity of the corporation.
Applications close 13 February 2018.
Round 1 Recipients
|Recipient Organisation||Project Description||Grant (Exc GST)||Expected Total Investment (Exc GST||Project Location|
|Armour Energy (Surat Basin) Pty Limited||The Kincora Gas Acceleration Project: Accelerate development of its Kincora reserves by accelerating the delivery of a further 3 production wells in the 2018 campaign.||$6,000,000||$16,130,468||Qld/Surat Basin|
|Westside Corporation Pty Limited||Greater Meridian domestic gas acceleration project (the Project): Accelerate the development of gas reserves for the domestic market by drilling 8 additional wells equivalent to single lateral wells during 2019 and 2 additional equivalent single lateral wells during the first half of 2020.||$6,000,000||$14,340,000||Qld Bowen Basin|
|Beach Energy Limited (Adelaide Energy Pty Ltd)||Katnook Gas Processing Facility: Construction of a new Katnook Gas Processing Facility to process gas from the south east of South Australia.||$6,000,000||$22,600,000||SA Otway Basin|
|Tri-Star Fairfields Pty Ltd||Tri-Star Fairfields Gas Project: Accelerate the development of the Fairfields Gas Project by drilling an additional three wells in 2019 (bring total of wells drilled to 4).||$6,000,000||$16,344,514||Qld Bowen Basin|