Australia’s gas future: how Victoria can stay ahead of the pack

Abstract

ExxonMobil is proud to be a major conventional gas supplier into the Victorian market. The Gippsland Basin Joint Venture, which ExxonMobil operates on behalf of ourselves and BHP Billiton, currently supplies nearly 40% of east coast Australian domestic gas demand. It has produced almost two-thirds of oil and 30% of Australia’s gas production. Since natural gas was first produced from the Gippsland Basin in the late 1960s, the positive attributes of natural gas have been well recognised in Victoria. The use of gas has spread from cooking and heating in the home, to becoming an important source of energy to fuel manufacturing, industry and power generation. To facilitate the growing use of gas, we have seen new pipelines constructed to expand the reach of natural gas to new markets and to interconnect the major demand centres. As demand has grown, new supplies have also entered the market.