Bill
Offshore Petroleum and Greenhouse Gas Storage Amendment (Domestic Reserve) Bill 2026
before parliament, as at 2026-03-10.
- Sponsor
- Pauline Hanson
- Portfolio
- Not recorded
Recorded stages
- introduced — 2026-03-10
- second reading — 2026-03-10
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 2026-03-10.
The bill would require gas and petroleum companies operating in Commonwealth waters to set aside a portion of their exports for domestic use.
Companies would have 12 months to sign a domestic reserve agreement with the Commonwealth, reserving 15% of their exported petroleum for the Commonwealth's exclusive use.
The agreement would last at least 10 years, and the Commonwealth could transfer its rights to a state or territory.
- Imposes a new obligation on gas and petroleum companies to enter into domestic reserve agreements.
- Requires licensees to reserve 15% of their exported petroleum for the Commonwealth.
- Allows the Commonwealth to pass on its rights to a state or territory.
- Sets a minimum agreement term of 10 years.
- Requires new agreements if the licence remains in force after the first contract ends.
Gas and petroleum companies operating in Commonwealth waters, and state and territory governments that may receive rights to the reserved petroleum.
Sources
em
billhome