Gas Plan CSG licence buy-back extended

A RE-ELECTED Baird Government will extend the Petroleum Exploration Licence (PEL) buy-back scheme under the NSW Gas Plan, Minister for Resources and Energy Anthony Roberts has announced. 

Mr Roberts said the buy-back scheme, Action 4 of the NSW Gas Plan, has so far seen 12 PELs cancelled that covered more than 2,941,081 hectares of NSW.

"We inherited a mess from the former Labor Government, with half the State covered in PELs or PEL applications with no protections in place for our water, agricultural land, communities and environment," Mr Roberts said.

"The buy-back scheme has reduced the area covered by PELs to 11 per cent of the State.

"The NSW Gas Plan is the Liberals & Nationals Government's clear, strategic framework to deliver world's best practice regulation.

"We are putting an end to Labor's disgraceful legacy and moving forward with a gas industry on our terms.

"We have been encouraged by the success of the buy-back scheme in implementing a reset of the industry.

"A re-elected Baird Government will keep the scheme open until 30 June 2015.

"We are continuing to assess the interest of various titleholders in taking part in the buy-back scheme and we remain open to their approaches.

"If re-elected, the Baird Government will not approve the transfer of any titles until we have exhausted potential buy-back negotiations with the existing and/ or proposed titleholder.

"As we implement the NSW Chief Scientist and Engineer's recommendations and the actions under the NSW Gas Plan, we will be raising the bar for the gas industry.

"Extending the buy-back scheme will allow titleholders to consider a buy-back during this process."

Topics:  coal seam gas csg mike baird

PHOTO GALLERY: Splendour Day 2 in over 80 photos

Catfish and the Bottlemen at Splendour in the Grass 2017 at the main stage on Day 2.

Dune Rats arrive to a killer set on motorbikes, and more.

INSIDE SCOOP: Which celebrities surprised us at Splendour

Bernard Fanning plays the main stage at Splendour in the Grass 2017 on day 2.

DAY TWO of Splendour in the Grass was the day of celebrities.

OPINION: Splendour reached peak glitter

Courtney Smoulden and Dylan Barker sporting some of the extensive glitter available at Splendour in the Grass 2017 near Byron Bay.

2017 is, officially, the year of Splendour in the Glitter

Local Partners

New Thor: Ragnarok trailer is everything you could want

THOR fans around the world have been waiting for another glimpse of Chris Hemsworth as the God of Lightning before the November premiere of Thor: Ragnarok.

Check out the 22 women who'll chase the next Bachelor

Meet the women vying for Matty J's heart on The Bachelor.

The 22 women of the Bachelor have been revealed

'What gig?' Drummer left out of Powderfinger reunion

Former Powderfinger drummer Jon Coghill works as a presenter and journalist for ABC Sunshine Coast.

Former drummer learns of reunion gig after the fact

FINAL PHONE CALL: Princes’ regret over last words to Diana

Prince William and Prince Harry have opened up about their mum, Princess Diana, in a new documentary. Picture: ITVSource:Supplied

Two princes regret rushing the last phonecall with their mother

Karl Stefanovic breaks his silence on divorce, new love

Karl poses for Stellar’s July 23 issue. Picture: Steven Chee Source:Stellar Magazine

Stefanovic on his marriage breakdown, new girlfriend

What's on the small screen this week

Matty J and Osher Gunsberg in a scene from The Bachelor.

WINNERS will be crowned on MasterChef and Australian Ninja Warrior.

Financial scandal destroys alternative community

Families who gave thousands to be a part of an alternative community at Mt Burrell, west of Murwillumbah, are now trying to recover their investment. Picture: Jamie Hanson

Dream Utopia turns into a nightmare

Mum buys $900,000 apartment for her 8-year-old son

Tania Katsanis beat another couple of homeowners to secure the winning bid.

The apartment was a 'bargain' as the property market bottoms out

Owner tells of ghostly goings on at old Mackay pub

GHOST STORIES: Several people have died at the Mirani Hotel

Owner says pub is 'definitely haunted'