PM defends North West Shelf gas extension to 2070, as critics warn about net zero commitment
The prime minister has defended a decision to allow Australia's largest gas project to run until 2070 as necessary to ensuring stable power supply with coal plants due to close in a matter of years.
Environment Minister Murray Watt gave provisional approval for Woodside's North West Shelf to operate for another 40 years, extending its environmental approval beyond the previous end date of 2030.
It has prompted a furious reaction from environmental groups who say it will lead to higher emissions and threaten Australia's climate commitments.
Consideration of projects under the Environmental Protection and Biodiversity Conservation Act does not allow the minister to consider the climate impacts of a project.
Speaking on ABC Brisbane, Prime Minister Anthony Albanese said on the whole the government was still progressing its aim to cut emissions by 43 per cent by the end of this decade.
"When we look at the overall issue, if you take a step back, we are already more than halfway to delivering on our commitment of 82 per cent renewables by 2030, we're up to 46 per cent as we're speaking here now," he said.
"In order to get that investment in renewables you do need firming capacity, whether it be batteries, hydro or gas, and that is what will encourage that investment and the transition to occur. In Western Australia they are closing their last coal fired power station at Collie in 2027. They are moving to renewables backed by gas, and that will be a really important part of the transition that will occur."
The approval given to Woodside allows it to operate until 2070, but the company could decide to close the plant sooner — and it will remain subject to increasingly stringent requirements to cut emissions over time, or face penalties.
However while the approval is not an expansion of the North West Shelf's footprint, it does open the door to future expansion.
Celebrating yesterday's approval, Woodside chief executive Meg O'Neill said the company was eyeing a new gas field in the region, Browse, for which a project proposal is already under consideration by the government.
"Browse of course is important, particularly in the 2030s and '40s for domestic gas and energy security in Western Australia," she said.
"We will continue to work with the state's [Environment Protection Agency ... and Commonwealth environment department on those Browse approvals."
Woodside has proposed developing 50 production wells in the Browse basin, which would be connected to the North West Shelf processing plant in Karratha through a 900 kilometre pipeline.
Like the NWS proposal given approval yesterday, it has sat under assessment for six years.
Greens leader Larissa Waters said the NWS proposal, which was twice-delayed before the election, had been pushed back for political reasons.
"This is a dangerous decision. And how cynical that they postpone this decision until after the election, knowing full well that people would be horrified that they have approved fossil fuels out to 2070," Senator Waters said.
While the Greens say the new Environment Minister Murray Watt has "failed at the first hurdle" in his first major decision in that portfolio, there remains an optimism that this term of government will see progress on environmental reform, particularly to the ageing EPBC Act.
Independent MP Allegra Spender told Sky News the NWS approval proved the laws were not working.
"We know that we have to get to net zero by 2050, this is four decades of go-ahead on gas, and there's no accounting for the impact of climate change on the environment when this decision was made," Ms Spender said.
"Our environmental laws don't take account of climate change ... it sends very mixed messages to say we're committed to net zero, we're committed to real climate action but let's approve this for the next 40 years, well beyond the timeline of net zero."
Meanwhile, the Coalition is reviewing its own commitment to reach net zero carbon emissions by 2050, a promise it signed up to in late 2021 under former prime minister Scott Morrison.
Nationals deputy leader Kevin Hogan said he and his party would approach that review with an open mind.
"We haven't had a serious discussion about this for four or five years. We will look at it, we're going to do a study into it, the economic ramifications, new technologies, what we maybe can look at that we haven't looked at as solutions before," Mr Hogan said.
A handful of major countries have not adopted net zero emissions targets by 2050 including Iran and Indonesia.
China and Russia have committed to net zero emissions by 2060, though a number of others with 2050 targets are not on track to meet them.
The only countries that have not ratified the Paris Agreement to keep warming below 2 degrees Celsius are Iran, Libya and Yemen, though United States President Donald Trump has also announced his intention to again withdraw from the agreement.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

News.com.au
3 hours ago
- News.com.au
US share exodus: Aussies sell their US stocks on Trump fears
Australian retail investors are ditching the United States and moving their money to 'stable' economies on the back of US President Donald Trump's 'Liberation Day.' New retail data from investing platform eToro, who asked 10,000 retail investors across 14 countries, including 1,000 from Australia showed a sharp trend away from America. According to eToro's data the downturn in enthusiasm for US markets reflects broader economic uncertainty, with 37 per cent of Aussie investors citing the global economy as the biggest threat to their investments – the highest figure recorded since Q2 2022. Inflation follows as the second biggest concern at 17 per cent. Instead of investing abroad, local investors are increasing their exposure to Australian markets. eToro managing director Robert Francis told NewsWire a combination of US policies and high valuations have retail investors sceptical of investing in the world's largest market going forward. 'People are beginning to realise the US exceptionalism isn't what it was a year or two ago with the inauguration of Trump has meant a lot of uncertainty,' he said. Rayeiris Maduro Rondon, an investor based in Sydney after relocating from Venezuela told NewsWire it is her opinion that the days of the US exceptionalism has 'paused' as she shifts to Europe and China. 'I view this more as a period of recalibration rather than decline,' she said. 'Historically, when markets trade at elevated valuations for extended periods, investors begin to see high multiples as 'the normality' and price in unrealistic growth expectations. 'That's where the U.S. stands today.' While she still holds some US investments on a 'reasonable valuation,' she said there are better opportunities abroad. 'In Europe and Asia, I'm finding businesses with higher returns on capital and strong cash flows trading at deeply discounted valuations, making them far more attractive from a risk-adjusted perspective,' she said. Alert not alarmed Australian investors are split on what the current market volatility means for them. eToro's survey data showed 35 per cent of Aussies are more vigilant about their portfolio while a further 28 per cent are feeling anxious. On the flipside, 24 per cent are actually hopeful or excited about the large market swings. This optimism extends to investing strategies, with over a quarter of Aussie retail investors seeing a decline of 10 per cent or less as an opportunity to buy the dip. eToro's market analyst Josh Gilbert said investors are alert but not all of them are alarmed. 'Many see recent market dips as buying opportunities, which signals a level of confidence in long-term market resilience, he said. 'The risk of being out of the market altogether is something savvy investors are acutely aware of. 'The recent rebound in global equities since April has reinforced that view, even in uncertain times.' It has been a volatile ride for investors since Mr Trump took office for global markets initially rallying before hitting a bear market on April 2, with the announcement of Liberation Day. The wide-ranging tariffs were touted as Liberation Day for the US, with Mr Trump arguing it would level out the playing field. In a list of countries, Australia was 21st with a 10 per cent tariff on all goods imported into the US. The ASX slumped 11.4 per cent in the five days following 'Liberation Day', while the US S & P 500 fell around 12 per cent while the Dow Jones dropped 11 per cent. In both the Australia and the US shares quickly recovered after Mr Trump announced a temporary pause on his tariff policies. Mr Francis said this was a dramatic turnaround in investor confidence with the market initially rallying when Mr Trump returned to office. 'The whole market was buoyant with Trump's inauguration,' he said. 'I mean, we all thought investors, market commentators, all thought that we were going to see a continued bullish trend in the market. 'But given what we're seeing now around trade conflicts, tariffs that are being implemented, this is kind of, where is this going to go? 'All of this means that there's a level of uncertainty right now that doesn't bring confidence in investing in the US'. Some still move to safe assets Commodities have also been a favourite of Australian investors as they look to protect their positions. According to eToro's results, fears mount over a weaker US dollar and persistent inflation, Aussie retail investors are repositioning their portfolios, with nearly half of respondents having adjusted allocations or planning to. Mr Gilbert said 60 per cent of respondents said they expect gold prices to increase in the next 6–12 months, which reinforces its traditional role as an inflation hedge. 'Interestingly, we've seen Bitcoin's growing status among younger investors as a similar hedge. 'Out of local retail investors who are adjusting their portfolios based on a weaker USD, 27 per cent of Gen Z respondents said they will buy more crypto, the highest out of all generations. Indeed, 52 per cent of local Gen Z investors already hold crypto.'


7NEWS
6 hours ago
- 7NEWS
World leaders react to US attack on Iran nuclear sites
World leaders are reacting after US forces struck three Iranian nuclear sites. * OFFICE OF AUSTRALIAN PRIME MINISTER ANTHONY ALBANESE 'We have been clear that Iran's nuclear and ballistic missile program has been a threat to international peace and security. We note the US president's statement that now is the time for peace. The security situation in the region is highly volatile. We continue to call for de-escalation, dialogue and diplomacy.' * ISRAEL PRIME MINISTER BENJAMIN NETANYAHU 'Congratulations, President Trump. Your bold decision to target Iran's nuclear facilities with the awesome and righteous might of the United States will change history ... History will record that President Trump acted to deny the world's most dangerous regime the world's most dangerous weapons.' * UN SECRETARY-GENERAL ANTONIO GUTERRES 'I am gravely alarmed by the use of force by the United States against Iran today. This is a dangerous escalation in a region already on the edge - and a direct threat to international peace and security. There is a growing risk that this conflict could rapidly get out of control - with catastrophic consequences for civilians, the region, and the world. I call on member states to de-escalate and to uphold their obligations under the UN Charter and other rules of international law. At this perilous hour, it is critical to avoid a spiral of chaos. There is no military solution. The only path forward is diplomacy. The only hope is peace.' * VENEZUELA FOREIGN MINISTER YVAN GIL 'Venezuela Condemns US Military Aggression Against Iran and Demands an Immediate Cessation of Hostilities. The Bolivarian Republic of Venezuela firmly and categorically condemns the bombing carried out by the United States military, at the request of the State of Israel, against nuclear facilities in the Islamic Republic of Iran, including the Fordow, Natanz, and Isfahan complexes.' * MEXICO FOREIGN MINISTRY 'The ministry urgently calls for diplomatic dialogue for peace between the parties involved in the Middle East conflict. In keeping with our constitutional principles of foreign policy and our country's pacifist conviction, we reiterate our call to de-escalate tensions in the region. The restoration of peaceful coexistence among the states of the region is the highest priority.' * CUBA PRESIDENT MIGUEL DIAZ-CANEL 'We strongly condemn the US bombing of Iran's nuclear facilities, which constitutes a dangerous escalation of the conflict in the Middle East. The aggression seriously violates the UN Charter and international law and plunges humanity into a crisis with irreversible consequences.'

ABC News
7 hours ago
- ABC News
Australian government calls for de-escalation of war in Iran as Coalition endorses US strikes
The Australian government has offered no endorsement of the United States' strikes on Iranian nuclear facilities, instead issuing a statement reiterating calls for de-escalation as the opposition put forward its support for the military action. Donald Trump announced the United States had dropped "a full payload of bombs" on the Fordow nuclear site on Sunday, along with strikes on two other locations, declaring Iran's nuclear enrichment facilities "completely and totally obliterated". In response, a government spokesperson said: "We have been clear that Iran's nuclear and ballistic missile program has been a threat to international peace and security. "We note the US president's statement that now is the time for peace. The security situation in the region is highly volatile. We continue to call for de-escalation, dialogue, and diplomacy." A short time after the government released its statement, Opposition Leader Sussan Ley and acting Shadow Foreign Minister Andrew Hastie said the Coalition supported Mr Trump's "proactive action" to bomb the facilities, more than a week after Israel launched an attack on Iran. "The world can never accept a nuclear-armed Iranian regime, and today the United States military has taken proactive action to ensure that we never need to," they said in a statement. "While Australians will never seek conflict in the world, we can never forget that the Iranian regime is a militantly theocratic autocracy … It is the Iranian people who are the victims of this brutal regime and we stand in solidarity with them." Current and former Liberal politicians were also quick to offer their strong support for the strikes, calling on the government to do the same. Former prime minister Scott Morrison said Mr Trump was left with no other option given the risks of Iran's nuclear program, while Liberal Senator Dave Sharma told Sky News it was "essential that Australia supports what the United States has done". Prime Minister Anthony Albanese is yet to respond to the developments personally. Earlier on Sunday, before Mr Trump announced the strikes, Deputy Prime Minister Richard Marles said the government's position was de-escalation while noting it recognised Israel's right to defend itself and the risk of Iran's nuclear program. "We are worried about the prospect for escalation here, and we have been urging de-escalation, dialogue, and diplomacy, and we continue to do that," he told Sky News. In an address to the nation late on Saturday night, local time, Mr Trump described the action as a "spectacular military success", while a spokesperson for Iran's nuclear organisation told state media the Fordow site experienced limited damage. The extent of the damage is yet to be independently assessed. Mr Trump later posted to Truth Social — a social media platform — that any Iranian retaliation on the United States would be "met with a force far greater than what was witnessed tonight". Early on Sunday, Mr Hastie, who is also a veteran, warned that any escalation of the war was "dangerous and risky" and could bring unintended consequences. Speaking to ABC's Insiders minutes before Mr Trump announced the attack, he said: "We could see regime change, a collapse of the Iranian regime, large-scale migration and refugees across the world, but particularly Europe. We don't know who would fill the power vacuum." "If there is one lesson I take out of Iraq, Afghanistan, and Libya, it's be careful what you wish for." He also said there needed to be greater transparency over how the United States uses Australian military bases, calling on the government to be clear about what the military alliance involves. Mr Marles this week did not say whether American forces could make use of Australian military bases in the north in an action against Iran, stating "we have a system of full knowledge and concurrence" of operations from Australia. "We need greater transparency, to talk about operationalising the alliance, building guard rails for combat operations and defining our sovereignty," Mr Hastie said. "This will make things clearer for us, so we can better preserve our national interests." Greens leader Larissa Waters said in a statement that the government "must not allow the use of Australian US military bases like Pine Gap in this conflict". "Australia must always work for peace and de-escalation. Australia is not powerless, and we cannot be involved in another brutal war in the Middle East," she said. "Only when countries like Australia push back and hold to principles and international law and back them up with material actions, will there be a chance for peace."