NSW Nationals Candidate for Hunter James Thomson has welcomed the federal government’s investment in boosting local fuel supplies.
On Thursday morning the Australian Government announced it was investing up to $260 million to expand the nation’s diesel storage capacity as part of its commitment to boost long-term fuel security, create jobs and keep prices low.
Mr Thomson said this was yet another example of the NSW Nationals in government delivering on their plans for a safer, stronger future for our country.
“Locally we will see two projects that will increase diesel stores by over 150 Megalitres, creating 130 new jobs during construction,” Mr Thomson said.
“This investment is critical in eliminating risk to national productivity and protecting local jobs at a very important time for Australia.
“Diesel keeps trucks on the road, tractors in the field and equipment operating in our mines. It is vital to supporting local jobs and I welcome this move to support jobs both now and into the future.”
Federal Nationals Member for Lyne Dr David Gillespie said the Boosting Australia’s Diesel Storage program will increase the volume of diesel stock we can keep onshore, create jobs and help keep fuel prices low for consumers.
“Diesel is vital to Australia’s energy security as it keeps our economy running. It underpins our critical, infrastructure, trucking sector and key industries, such as mining and agriculture, ” Dr Gillespie said.
“Through these grants, along with our support to keep Australia’s refineries operating until at least mid-2027, the Government is making sure Australian families and industry can access the fuel they need, when they need it.”
“This investment will ensure that local truckies, tradies, farmers and commuters have access to the reliable fuel they need.”
“It also helps secure the sovereign fuel stocks we need for any event and complements the Government’s support for Australia’s refineries.”
The Boosting Australia’s Diesel Storage program will see the government invest in 10 projects across Australia that will support about 1000 new jobs and see a 40 per cent increase in Australia’s diesel stockholdings. This includes two projects at the Port of Newcastle with Stolthaven increasing capacity by 126 Megalitres and Park Fuels constructing an additional 30 Megalitres. These projects are expected to create around 130 jobs during construction. Along with the additional diesel storage, these projects will also deliver 202 megalitres of additional petrol and jet fuel storage funded by the private sector.
This program is a key part of the NSW Nationals in the federal government’s comprehensive fuel security package, announced in the 2020-21 Budget, to secure Australia’s long-term fuel supply by increasing onshore stockholdings and our sovereign refining capability that meets our needs during an emergency and into the future.
These grants will cover up to 50 per cent of total eligible project expenditure. Projects are expected to commence construction from mid-2021 and be completed within three years.
