Added by Elivia DeVries on February 22, 2011
A new gas project investment in Queensland amounting $35bn has been approved today according to Andrew Fraser, Queensland’s Treasurer.
The third new coal seam gas project has received commonwealth approval on Tuesday, bringing the amount of the three investments to $66bn, while creating an overall number of 18,000 jobs for the Australian state.
The Australia Pacific LNG project, also known as APLNG, will bring Queensland an investment of $35bn and approximately 6,000 jobs. Andrew Fraser stated on Tuesday, after the project was approved, that APLNG will contribute to the development of the state and to creating jobs in the region.
The Queensland Treasurer also said that, currently, creating a balance between economics, social and environmental issues is top priority for the state. “Our priority is striking the right balance between social and environmental sustainability and economic growth,” Mr Fraser said.
APLNG is a joint venture project between companies ConocoPhillips and Origin Energy. The project will be developed in the central area of Queensland, Gladstone. According to the joint venture partners, the next step in the development of the project is to obtain construction approvals and specific environmental permits.
APLGN will face very strict environmental conditions, since there are fears that it may poison the Great Artesian Basic. The project in central Queensland is estimated to gain the state up to 1,000 operational jobs and another 5,000 in the construction field.