A REPORT on the future of coal seam gas in Queensland has found that more than 20,000 full-time jobs could be available in the sunshine state each year from 2035.
Commissioned by the Australian Petroleum Production and Exploration Association, the report also said the industry could bring in $32 billion in royalties to the state government.
APPEA chief operating officer eastern region, Rick Wilkinson, said the figures showed the importance of the gas industry to Queensland.
"While the environmental benefit associated with gas being a cleaner energy source is driving the industry's rapid growth, this report clearly shows the industry will also bring enormous economic benefit in the form of more jobs, higher wages, and downward pressure on electricity prices.
"The report also highlights the great economic divide now developing between Queensland and NSW, a state facing a looming natural gas shortage despite its very significant gas resources.
"CSG has the potential to be an economic game-changer in NSW but that state's gas industry risks being left to stagnate while others are powering ahead."
But Greens Senator Larissa Waters said the claims the report made were "typical of the inflated claims she expected of the industry.
"If the report is using the usual calculation that the industry creates three jobs for every one, it is wrong.
"This calculation was debunked by Treasury during estimates in February, and it's misleading if it has.
"On the other claims that is would reduce electricity prices, that simply doesn't make sense when you see that every project now proposed is going to be exporting all of its gas, not using it for domestic production.
"As for it being cleaner than coal or other resource industries, we are still yet to see a genuine, independent Australian analysis of that."
The report said the proposed industry expansion could create an increase in Queensland gross state product of $497 billion; increase in Australia GDP of $516 billion and an increase in total Queensland gas consumption of 2,743 petajoules.
The report also finds in the years 2015 to 2035, the expansion of the Queensland CSG industry could:
- Increase real Australian Gross Domestic Product by $516 billion;
- Place downward pressure on wholesale electricity prices, reducing prices by 10%;
- Pay up to $32 billion to the Queensland Government in royalties and other taxes;
- Pay a further $243 billion in Australian Government taxes
- See Queensland real incomes rise by $342 billion; or $28,300 per person