A gas-led recovery is on the way

The COVID-19 pandemic hit the Australian economy hard. In the March and June quarters of 2020, GDP plunged 7.3%, placing the country into recession. While the economy has since partially rebounded, the government has developed a long term plan for a gas-fired recovery.
 
The economic benefits could be significant. A recent Ernst & Young report found that the oil and gas industry could boost the economy by over $350 billion and create 220,000 new jobs over the next 20 years if key projects are supported.
 
This will be delivered across three key areas. Of the measures outlined, some are well on the way with others yet to come.