Cost of Living a Bigger Concern for Hunter Residents than Offshore Gas Exploration

A new survey has found that residents in the Hunter region of New South Wales are more concerned with cost-of-living issues than the development of offshore oil and gas fields in the state.

A survey commissioned by Advent Energy found that 54% of respondents listed cost-of-living as the most significant issue they face, with less than 1% naming gas exploration as their biggest concern.

David Breeze, executive director of both unlisted Advent Energy and BPH Energy (ASX: BPH), said polling suggested that gas exploration offshore the Hunter region has far stronger support than politicians may have realised and that its opponents have acknowledged.

Advent Energy subsidiary Asset Energy operates the large PEP11 permit located off the Hunter coast that has been a target for both federal and state politicians, and is currently the focus of a legal case set to be heard later this month.

Balanced Public Discussion

Mr Breeze said the polling results show that government agencies need to place greater emphasis on working with industry and community groups to ensure balanced public discussion of energy resource development, and called on them to urgently reconsider their position on gas exploration offshore Newcastle to help alleviate the east coast energy crisis.

“The Australian Energy Market Operator has highlighted the urgent need for new gas supply projects to address potential shortfalls in Australia’s east coast gas market expected from 2028 onwards,” he said.

He noted that the ACCC’s June 2025 report on the east coast gas market also pushed for the removal of barriers to new gas supply to avoid forecast gas shortfalls.

The ACCC report found that, while the east coast had enough gas reserves and resources to meet projected demand for at least the next decade, a combination of policy, technical, and commercial factors over the past 15 years had impeded the necessary development beyond that period.

PEP11 Has a Role to Play

Mr Breeze said Advent Energy’s project could be a major part of any solution to NSW’s gas shortages and high energy prices.

“Provided that the gas prospects across PEP11 are proven to be of commercial value, our project has the potential to supply 20 years’ worth of gas for NSW,” he said.

“We have committed to inject all of our produced gas into the domestic market—and more supply will mean lower prices.”

“Natural gas plays a critical role in supporting the energy transition, while also underpinning the state’s manufacturing industries and other commercial activity.”

Business NSW estimates that 250,000 jobs in NSW rely upon gas as a feedstock and energy source.

Gas Market Review

As the operator of the PEP-11 project, Advent Energy recently provided a submission to the Australian government’s Gas Market Review Consultation Paper.

The submission noted that significant geoscience work carried out before and after Advent acquired its interest in the licence in 2004, including the drilling of the New Seaclem-1 well in 2010, had encountered zero safety or environmental incidents.

“It is the submission of Advent Energy that NSW needs the discovery of new natural gas resources to meet the ongoing needs of its homes and businesses, and that there is no environmental, safety or other reason to prevent exploration occurring in Federal waters offshore the state,” the company wrote.

“For projects that involve significant upfront exploration risk and capital, the lack of a clear, consistent, and supportive policy framework for new domestic supply can make it challenging to progress projects.”

“This directly affects our ability to bring new gas to the market and contribute to energy security.”