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Wednesday, May 12, 2021 6:56:57 AM

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Federal funding

MEDIA RELEASE 12 May 2021

Blue Energy welcomes Federal Budget support for Bowen Basin Gas
projects
Blue Energy Limited (Blue Energy) welcomes last night’s Federal Budget measures committing 2021
Budget funds of $15.6 million specifically to gas appraisal projects in the North Bowen and Galilee
Basins.
The grant monies will be directed specifically at field trials that improve the geological understanding
on the region, address any technical drilling challenges and better determine gas deliverability rates.
Blue Energy welcomes these initiatives, together with the release of the interim National Gas
Infrastructure Plan which identifies the key geologic basins for development of new gas supply for east
coast gas customers.
These 2021 Budget measures further highlight the importance of the North Bowen Basin Gas Province
as a solution to the east coast supply shortfall, and also demonstrates the continued commitment by
both State and Federal Governments to development of the North Bowen Basin gas province. The
North Bowen Basin’s importance is best characterized by its following characteristics:
1. It has a large-scale gas resource – 15,000 PJ of gas resource already identified;
2. It has been in production (servicing the local Townsville market with small diameter pipeline)
for over a decade.
3. It has been geologically de-risked by hundreds of coal seam gas wells, extensive coal mine
drilling data and degassing operations and the decade long history of continuous gas
production.
4. It is development ready and only requires a pipeline link to the southern markets.
5. With an aggressive build schedule, gas could be flowing to east coast customers well before
2026.
The completion of the final National Gas Infrastructure Plan will see incorporation of the North Bowen
Basin gas resources into the national gas infrastructure priority spend for east coast supply.
By Authority of the Board per: John Phillips
Managing Director
Blue Energy Limited
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