Minister for Resources, Water and Northern Australia Keith Pitt has welcomed an overdue decision by the Victorian Government to lift the moratorium on onshore conventional gas exploration and development.

“This is an important step forward for an industry that has the potential to be a major economic contributor to Victoria and Australia once the ban is lifted from mid-2021,” Minister Pitt said.

“I am pleased the Victorian Government now accepts the true science around the benefits of developing the state’s gas industry and what it will mean for manufacturing.

“Not only will the decision help boost domestic gas supplies, it will generate millions in royalties for Victoria."

While the decision on conventional gas is a good win for the state, Minister Pitt said he was disappointed Victoria didn’t take the opportunity to reverse its ban on unconventional gas exploration.

“Victoria has potentially enormous shale and tight gas resources that could generate billions in revenue and create thousands of locals jobs,” Minister Pitt said.

The resources sector will play a vitally important role in leading the post-coronavirus economic recovery.

“With the challenge that the Australian and world economy is facing from the COVID-19 pandemic, Australian industry will be well placed to lead the economic bounce back that will come,” Minister Pitt added.