A Win in the CSG battle

Get Up reports success – the NSW Government will buy back AGL’s “PEL 2” — that’s the licence that covered 6500 sq km including water catchments that provide drinking water to millions of people and communities from the Illawarra and Southern Highlands, across south west Sydney and up to the Central Coast. This is the coal seam gas licence thousands of us told AGL and the Resources Minister Anthony Roberts to ditch — and today they did. It didn’t stop at Sydney’s water catchments: AGL also announced the Hunter Valley coal seam gas licences covering the Broke-Fordwich wine region will be cancelled, and scrapped plans to expand the Camden Gas project near homes in   South-West Sydney..
With $275 million of their asset write-downs coming from the Gloucester project alone, today’s announcement shows just how risky an investment CSG is for them.2 They’re in a very vulnerable position — in just a few months AGL will need to decide whether to get out of Gloucester for good.
Get Up are calling for support to convince AGL (also EnergyAustralia and Origin) that their continued investment in fracking is bad for business.

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