politics
Australian Senate Inquiry Requests Evidence from Gas Company Executives on Export Tax Settings
A Greens-led Senate inquiry has requested chief executives from major gas companies including Santos, Woodside, Chevron, and Shell to provide evidence on export tax settings. The inquiry occurs amid discussions on a potential 25% export tax on gas due to high global fuel prices from the US and Israel-led war against Iran.
Apr 13, 10:01 AM·2m read1 source
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Chief executives from several major resources companies have been requested to give evidence in sessions scheduled for Canberra and Perth later this month. The companies include Santos, Woodside, Chevron, Shell, Inpex, and ConocoPhillips.
Under Senate rules, attendance can be compelled if the executives do not appear voluntarily. The inquiry examines potential changes to taxation amid elevated global fuel prices resulting from the US and Israel-led war against Iran. Labor, the governing party, faces calls to implement a 25% tax on gas exports.
Labor supported the creation of the inquiry after reports indicated that the prime minister's department had requested Treasury to model the impacts of a flat tax on gas exports, along with modifications to the petroleum resource rent tax and corporate income tax rules.
Supporters of the 25% tax, including unions, social service groups, and crossbench parliamentarians such as David Pocock, state that it could generate up to $17 billion in additional budget revenue.
The committee chair, Greens senator Steph Hodgins-May, sent invitations to the chief executives on Monday.
The committee also requested evidence from ambassadors of Australia's key energy partners in the region, including Malaysia, Singapore, South Korea, and Japan. Labor has emphasized that it will not risk existing export contracts with Asian countries.
The party maintains that Australia is a reliable export partner and expects similar reliability from importing nations. The inquiry sessions are set ahead of the federal budget on May 12.
The Greens party has highlighted the need for the companies to address their tax contributions publicly.
Separately, the Greens Institute, led by former MP Max Chandler-Mather, released research estimating that major gas exporters could achieve profits exceeding $78 billion in 2026 due to the ongoing war. The research compares Australia's tax regime to Norway's and suggests that new windfall profit taxes could raise between $28 billion and $57 billion.
