Victorian Numbered Acts

OFFSHORE PETROLEUM AND GREENHOUSE GAS STORAGE (CROSS-BOUNDARY GREENHOUSE GAS TITLES AND OTHER MATTERS) AMENDMENT ACT 2021 (NO. 26 OF 2021) - SECT 14

    (1)     In section 123(1) of the Principal Act—

        (a)     in paragraph (f)(ii), for "blocks." substitute "blocks; or";

        (b)     after paragraph (f) insert —

    "(g)     an existing cross‑boundary greenhouse gas title; or

        (h)     if a cross‑boundary greenhouse gas assessment permit or cross‑boundary greenhouse gas holding lease is in force over a block or blocks—

              (i)     a future cross‑boundary greenhouse gas holding lease over the block or any of the blocks; or

              (ii)     a future cross‑boundary greenhouse gas injection licence over the block or any of the blocks.".

    (2)     In section 123(2) of the Principal Act—

        (a)     in paragraph (e), for "applicant—" substitute "applicant; or";

        (b)     after paragraph (e) insert —

    "(ea)     an existing cross‑boundary greenhouse gas title held by a person other than the applicant—";

        (c)     in paragraph (f), for "or greenhouse gas injection licence" substitute ", greenhouse gas injection licence or cross‑boundary greenhouse gas title".

    (3)     After section 123(3) of the Principal Act insert —

    "(3A)     If—

        (a)     the Minister is satisfied that there is a significant risk that any of the key petroleum operations to which an application under section 122 relates will have a significant adverse impact on—

              (i)     operations for the injection of a greenhouse gas substance; or

              (ii)     operations for the storage of a greenhouse gas substance—

that could be carried on under—

              (iii)     a future cross‑boundary greenhouse gas holding lease over a block or blocks; or

              (iv)     a future cross‑boundary greenhouse gas injection licence over a block or blocks; and

        (b)     a cross‑boundary greenhouse gas assessment permit, cross‑boundary greenhouse gas holding lease or cross‑boundary greenhouse gas injection licence is in force over the block or any of the blocks; and

        (c)     the cross‑boundary greenhouse gas assessment permit, cross‑boundary greenhouse gas holding lease or cross‑boundary greenhouse gas injection licence is held by a person other than the applicant—

the Minister must have regard to—

        (d)     whether the registered holder of the cross‑boundary greenhouse gas assessment permit, cross‑boundary greenhouse gas holding lease or cross‑boundary greenhouse gas injection licence covered by paragraph (b) has agreed, in writing, to the applicant carrying on the key petroleum operations in respect of which the Minister is so satisfied; and

        (e)     if so—the terms of that agreement.".

    (4)     In section 123(5) of the Principal Act, for "and (3)" substitute ", (3) and (3A)".