7 November 2025
 

To: Victorian Legislative Council Environment and Planning Committee
Re: Inquiry into Decommissioning Oil and Gas Infrastructure 

Thank you for the opportunity for the Institute for Energy Economics and Financial Analysis (IEEFA) to provide input to the Victorian Legislative Council Environment and Planning Committeefor the Inquiry into Decommissioning Oil and Gas Infrastructure.

IEEFA is an independent energy finance think tank that examines issues related to energy markets, trends and policies. The Institute’s mission is to accelerate the transition to a diverse, sustainable and profitable energy economy.

IEEFA considers that Victoria is in a unique position to establish a decommissioning industry given the state has some of the oldest oil and gas extraction infrastructure in Australia and therefore has a greater proportion of its property and equipment ready for decommissioning. It is incumbent on the Victorian government to ensure decommissioning work is undertaken in an orderly and transparent manner. This will help to keep cost downs and provide opportunities for the state’s oil and gas workforce and contractors to move into the next phase of oil and gas lifecycle, decommissioning. 

We thank the committee for the opportunity to submit to Victoria’s inquiry into the decommissioning of oil and gas infrastructure, and we welcome any questions on our submission.
 

Kind regards,

Kevin Morrison, Energy Finance Analyst, Australian Gas