SYDNEY, Nov. 2 (Xinhua) -- Australia's Queensland State has invited companies to bid for the rights to explore 6, 600 square km of gas-rich land in the north.
Located near a key gas-producing region south-west of Chinchilla in the Bowen and Surat Basins, Queensland Natural Resources, Mines and Energy Minister Anthony Lynham said on Friday that "the land we are opening up today is perfectly placed for companies wanting to hit the ground running."
With gas and energy security a major issue facing Australia after the Australian Competition and Consumer Commission and the Australian Energy Market Operator informed the federal government last year that an imbalance in export numbers could mean a domestic shortfall, the state government said a portion of the land will be secured for the Australian market only.
"The provisions the government has placed on 917 square km of this land will help with gas security for Australian manufacturers and fuel Australian jobs," Lynham said.
"As well as maintaining gas security in our own backyard, the remaining land for exploration will strengthen Queensland's ability to deliver on lucrative, long term export contracts worth 11.4 billion Australian dollars (8.2 billion U.S.) to the local economy this year alone."
But the state government has warned that even if successful, tenders will still have to pass rigorous environmental, native title and land access requirements before beginning on-ground exploration.
The bidding process is due to close on Feb. 28.
