The Coalition, speaking to a gas industry conference in Sydney, announced that it would elevate gas to the same status as a critical mineral, allowing the industry to access a $4 billion export finance fund designed to support the transition to net zero. Senator for Queensland, Susan McDonald, stated that this policy would ensure gas remains a vital part of the Australian economy for decades. She announced plans for a Coalition government to increase investment by giving gas the same status as a critical mineral, thus enabling gas projects to apply for funding from a $4 billion critical minerals facility.

This fund is managed by Export Finance Australia and was established to align with the federal government’s critical minerals strategy, which aims to boost the critical minerals sector as energy markets transition to cleaner energy sources. The announcement follows opposition leader Peter Dutton’s recent budget reply, where he proposed an east coast gas reservation scheme to lower domestic prices.

Dutton suggested that the scheme could lead to wholesale gas prices dropping from $14 to $10 a gigajoule by the end of the year, though the Coalition had not yet detailed how the policy would work. Industry bodies welcomed the announcement, with the Australian Energy Producers stating it was further recognition of gas’s critical role in the economy. Conversely, anti-gas groups like the Lock the Gate Alliance voiced concerns over significant taxpayer funds being provided to an already profitable gas industry.

Madeleine King, Australia’s resources minister, criticized the opposition’s gas plan, calling it “not much of a plan” and “reckless” due to the lack of detail, arguing that the opposition had also voted against government efforts to lower gas prices for Australian consumers, such as a temporary price cap.

Source: https://www.theguardian.com/australia-news/2025/apr/02/australia-election-2025-liberal-coalition-gas-producers-net-zero-fund