No royalties are paid on 56% of gas exported from Australia including 73% of gas exported from Western Australia, according to the Australia Institute.
Over the last four years, multinational companies made A$149bn exporting ‘royalty free gas’ and at least A$13.3bn in revenue could have been raised had royalties been charged, the Institute reports.
Around 80% of Australia’s gas is exported as liquefied natural gas (LNG) which is mostly extracted from gas fields in Commonwealth waters, it adds. Total value of LNG exports since 2020 is estimated at A$265bn.
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