Three weeks out from the state election and the state government has announced the cancellation of another coal seam gas licence.
Petroleum Exploration Licence (PEL 5) covered an area of nearly 40,000 hectares from The Entrance to Wyong, Lake Munmorah, Mandalong, Balcolyn and Dora Creek.
The government bought back the licence from AGL.
“The PEL buy-back scheme, Action 4 of the NSW Gas Plan, is a one-off opportunity for PEL holders to surrender titles for limited compensation,” said Minister for Resources, Anthony Mr Roberts.
“Large areas of the Central Coast are now no longer covered by coal seam gas licences.
“The NSW Gas Plan outlined our clear, transparent path to provide world’s best practice regulation and we are delivering.
“The Liberals & Nationals Government commissioned the independent Chief Scientist & Engineer, Professor Mary O’Kane, to provide a report on how best to achieve this, and we are putting in place all 16 of her recommendations.
It follows the buyback of PEL 463 last week that covered an area stretching from Woy Woy to Terrigal, Point Clare and Gosford.
