The Australian Petroleum Production and Exploration Association (APPEA) Chief Executive David Byers has commented on the significance of the repeal, saying that it allows Australian LNG exporters to again be competitive in the global market.

“Surging LNG demand in Asia presents an enormous opportunity for Australia. However rising development costs raise doubts about the attractiveness of continued investment in Australian projects.

“While initiatives are being taken within the industry to address cost competitiveness, it is good to see policy action that removes costs for trade-exposed producers.