UNCONVENTIONAL GAS PROJECTS

Mr SIBBONS (Mitchell) (14:58): My question is to the Minister for Mineral Resources and Energy. Can the minister inform the house of recent developments in the state's unconventional gas sector?

An honourable member interjecting:

The Hon. A. KOUTSANTONIS (West Torrens—Minister for Manufacturing, Innovation and Trade, Minister for Mineral Resources and Energy, Minister for Small Business) (14:58): I did go up. I watched the Premier start an energy revolution; it was fantastic. I want to say to the member for Mitchell and all members of the house that we are in the grips of what I think will be a game changing event for South Australia and, indeed, maybe even Australia. It was an honour to accompany the Premier and representatives from South Australia's own Santos to attend the official opening of Moomba-191, Australia's first commercial shale gas well.

It was a momentous day for the state and a sign of the continuing strength in the state's burgeoning resources sector. The turning of the tap on the Moomba-191 gas well is an historic event in the history of our resources sector. For the first time in this nation's history and, indeed, in the Southern Hemisphere, we have commercially developed shale gas. I do not want to overestimate this, but I will say conservatively that I think this is the beginning of an energy revolution in this state and it is happening right here, in South Australia, right now, a revolution that all stakeholders, government, industry and business are poised to capitalise on.

Mr Williams: Are you trying to take the credit?

The Hon. A. KOUTSANTONIS: No, I am not.

The SPEAKER: Order! Member for MacKillop, order!

The Hon. A. KOUTSANTONIS: Mitch, I have a bit of sympathy for you this week, so I am holding back a bit.

Members interjecting:

The SPEAKER: Order!

The Hon. A. KOUTSANTONIS: It is a revolution that all stakeholders, government, industry and businesses are poised to capitalise on, but this is Santos's and Beach's success. That is what I said in my opening remarks. Later this year the government will finalise our part in the process, which is a roadmap for unconventional gas projects, a milestone that will pave the way for investment and innovation. It is a game changer for the Cooper Basin and pioneering companies such as Santos and Beach.

In the opening of 191, we herald in an era of energy security and long-term self-sufficiency, and acknowledge the unconventional gas revolution as the future catalyst to underpin economic and industrial growth. Early indications suggest unconventional gas has the potential to attract billions of dollars of investment into South Australia, with the expansion of the Cooper Basin to provide opportunities across the oil and gas supply chain.

Hundreds of jobs are being created to the north of this state from a myriad of world-class projects. Santos alone has committed to spending $500 to $600 million each year for the next 10 years across their Moomba operations, with 600 new jobs in the Cooper project alone. Just yesterday, another great South Australian company, Beach Energy, announced it had commenced a hydraulic fracture stimulation of the Moonta-1 unconventional shale gas well, yet another project showing the immense potential of the state's rich Cooper Basin.

These projects will underpin a renaissance of the Cooper Basin that has already seen over $11 billion of investment—more than the Snowy Mountains scheme—a renaissance that will see South Australian energy projects provide long-term employment opportunities for generations to come.

Finally, Friday 19 October will go down in history. Future generations of this state will look back to 19.10.2012 as a day when this state welcomed a new dawn. No, I am not talking about the member for Norwood's rise through his treachery to the deputy leadership, but I am sure Brutus will have plenty more to say about that as the days go on.

Mr MARSHALL: Point of order, Madam Speaker. The minister is straying well away from the question now.

The Hon. A. KOUTSANTONIS: I did not mean to offend Brutus, Madam Speaker, but I am sure he can take it.

The SPEAKER: I will uphold that point of order. Minister, you only have about 30 seconds left, so I suggest you wind up your answer.

The Hon. A. KOUTSANTONIS: The rest of us who were getting on with the business of governing this state and looking to the future prosperity of the people of this state will remember the shale gas revolution, while they fight amongst themselves and continue this farce.

Mr MARSHALL: Point of order. The minister is specifically ignoring your repeated instructions.

The SPEAKER: Yes, I am very aware of that. The minister has finished his answer. Sit down. The Leader of the Opposition.