Australian Industry Group welcomed the opportunity to make a short submission on the Bills before the Parliament to underpin a Domestic Gas Reservation Scheme.

Australia has made some serious errors on gas policy over the past 20 years. The Parliament can't rewrite the past, but it does have the chance to set a better course for the future through the Gas Reservation Bills before it.

Australia needs a strong long-term gas security framework in place as soon as possible. That framework will need to do several things:

1. Provide a clear basis for investment and contracting. 
2. Permanently disconnect local gas markets from global volatility.
3. Put firm domestic supply expectations in place well in advance of new export contracts.
4. Encourage the greatest contribution to local supply that exporters can make without violating existing contracts.

This is a complex challenge. We are where we are and there are no simple, straight line solutions. But Australian Industry Group thinks that the Gas Reservation proposed by the Government, and underpinned by the Bills before the Parliament, can achieve the goals above. We urge the Parliament to pass it after due consideration.

Australian Industry Group also contributed to a joint submission on the Gas Reservation Bills with the Australian Workers' Union, Australian Conservation Foundation and the Australian Council of Social Service (ACOSS)