Abstract
This environmental update for 2007 covers key environmental issues and development updates for the upstream oil and gas industry in Australia. Driven by market opportunities, the continued significant growth in the exploration and development of oil and gas reserves in Australia is considered against the environmental issues and challenges this growth presents. The number of large projects is testing regulatory approvals processes at a time when there is an ever rigorous and adapting regulatory climate, an increasing need for stakeholder engagement, and sustainability considerations. The review includes a summary of the environmental approval status of the large number of LNG projects in their various stages of development, as well as summary statistics on oil and gas activities in relation to assessment under the key Commonwealth environmental assessment legislation, the EPBC Act. An overview of changes in the main oil and gas legislation is also provided. Major environmental issues affecting the oil and gas industry are summarised, along with details of some of the main areas of ongoing environmental research initiatives. Finally, a summary of the review draws together the matters described in the environmental update for 2007.
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