{"id":4611,"date":"2022-09-01T15:43:00","date_gmt":"2022-09-01T07:43:00","guid":{"rendered":"https:\/\/aseanoffshore-decom.org\/?p=4611"},"modified":"2023-02-02T22:46:57","modified_gmt":"2023-02-02T14:46:57","slug":"trailing-liability-for-asset-decommissioning-in-australia","status":"publish","type":"post","link":"https:\/\/research.utm.my\/asean-decommission\/2022\/09\/01\/trailing-liability-for-asset-decommissioning-in-australia\/","title":{"rendered":"Trailing liability for asset decommissioning in Australia"},"content":{"rendered":"\n<p><strong>Australia\u2019s total asset decommissioning liability is estimated to exceed&nbsp;<a href=\"https:\/\/appea.com.au\/wp-content\/uploads\/sites\/90\/2020\/06\/Australia-Oil-and-Gas-Industry-Outlook-Report.pdf\" rel=\"noreferrer noopener\" target=\"_blank\">$60 billion between 2020 and 2050<\/a>. This issue is particularly acute with many fossil fuel assets facing early retirement as a result of the clean energy transition. Consequently, decommissioning stranded or end-of-life assets is becoming an increasingly significant consideration for businesses across a wide range of industries.<\/strong><\/p>\n\n\n\n<p>Australia\u2019s piecemeal legislative framework for dealing with decommissioning is, in many respects, confusing and inconsistent. Presently, the framework consists of an industry-specific array of federal and state-based legislation and regulations. For example, the&nbsp;<em>Offshore Electricity Infrastructure Act 2021&nbsp;<\/em>(Cth) regulates decommissioning of offshore wind farms and associated electricity transmission infrastructure, while the&nbsp;<em>Water Act 1989&nbsp;<\/em>(Vic) regulates decommissioning of public and private dams.<\/p>\n\n\n\n<p> <strong>News article on 30 August 2022  by Trevor Thomas &amp; Thomas Milner <\/strong>from corrs.com.au<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<p>For further reading, please visit <em>corrs.com.au<\/em> >> <a href=\"https:\/\/www.corrs.com.au\/insights\/trailing-liability-for-asset-decommissioning-in-australia\" target=\"_blank\" rel=\"noreferrer noopener\">Trailing liability for asset decommissioning in Australia<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Australia\u2019s total asset decommissioning liability is estimated to exceed&nbsp;$60 billion between 2020 and 2050. This issue is particularly acute with many fossil fuel assets facing early retirement as a result of the clean energy transition. Consequently, decommissioning stranded or end-of-life assets is becoming an increasingly significant consideration for businesses across a wide range of industries. [&hellip;]<\/p>\n","protected":false},"author":13006,"featured_media":4612,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[12,22],"tags":[],"class_list":["post-4611","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-worldwide"],"_links":{"self":[{"href":"https:\/\/research.utm.my\/asean-decommission\/wp-json\/wp\/v2\/posts\/4611","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/research.utm.my\/asean-decommission\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/research.utm.my\/asean-decommission\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/research.utm.my\/asean-decommission\/wp-json\/wp\/v2\/users\/13006"}],"replies":[{"embeddable":true,"href":"https:\/\/research.utm.my\/asean-decommission\/wp-json\/wp\/v2\/comments?post=4611"}],"version-history":[{"count":1,"href":"https:\/\/research.utm.my\/asean-decommission\/wp-json\/wp\/v2\/posts\/4611\/revisions"}],"predecessor-version":[{"id":4613,"href":"https:\/\/research.utm.my\/asean-decommission\/wp-json\/wp\/v2\/posts\/4611\/revisions\/4613"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/research.utm.my\/asean-decommission\/wp-json\/wp\/v2\/media\/4612"}],"wp:attachment":[{"href":"https:\/\/research.utm.my\/asean-decommission\/wp-json\/wp\/v2\/media?parent=4611"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/research.utm.my\/asean-decommission\/wp-json\/wp\/v2\/categories?post=4611"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/research.utm.my\/asean-decommission\/wp-json\/wp\/v2\/tags?post=4611"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}