Launched by the State Mines Minister Stephen Robertson, the Bill is also the first in Australia to have a dedicated coal bed methane gas (CBM) regime.

“These laws will underpin continued investment and development, particularly in regional Queensland, and provide greater stability and certainty to ensure Queensland stays at the forefront of this rapidly expanding industry,” said Robertson.

The new regime will bring all coal seam gas production under a single piece of legislation to provide clear rights to coal bed methane gas, giving investors the certainty they need to bring new projects to fruition.

“By providing clear rules, rights and obligation for the coal, coal seam gas and petroleum industries to work co-operatively, it will ensure the optimum development of the State’s coal and coal seam gas resources.”

Robertson said the new laws would introduce full competition in awarding petroleum exploration tenure for the first time.

“Full competition will encourage more responsible land and resource management, and makes sure our petroleum and gas resources are allocated more efficiently and transparently,” said Robertson.

The new laws will also provide landholders affected by petroleum activities with additional grounds for compensation.

“Landholders will also benefit from provisions that will allow petroleum tenure holders to make water available to third parties, including farmers, which will ensure we’re using Queensland’s precious water resources wisely.”