Bill
Offshore Petroleum and Greenhouse Gas Storage Amendment (Domestic Reserve) Bill 2023
lapsed, as at 2025-07-21.
- Sponsor
- Pauline Hanson
- Portfolio
- Not recorded
Recorded stages
- introduced — 2023-09-05
- second reading — 2023-09-05
- second reading — 2023-09-14
- other — 2025-07-21
Divisions
No divisions recorded. Most questions are decided on the voices; this does not establish that a bill was unopposed.
Plain-language summary
Written by a model from the explanatory memorandum; not the record, as at 2023-09-05.
The bill would require gas and petroleum companies in Commonwealth waters to set aside some of their exports for Australian use.
Companies would have 12 months to sign a domestic reserve agreement with the Commonwealth, reserving 15% of the petroleum they exported the previous year.
The Commonwealth could pass its rights to that reserved petroleum to a state or territory, and each agreement would last at least 10 years.
- Imposes a new obligation on gas and petroleum companies to enter into a domestic reserve agreement.
- Requires companies to reserve 15% of their exported petroleum for the Commonwealth.
- Allows the Commonwealth to transfer its rights to a state or territory.
- Sets a minimum 10-year term for each domestic reserve agreement.
- Requires licensees to enter a new agreement if the production licence is still in force after the first contract ends.
- Applies the amendments to licences granted before, on or after commencement.
Gas and petroleum companies operating in Commonwealth waters and the Commonwealth, states and territories.
Sources
em
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