Global energy demand will continue to grow rapidly, and sustainable energy supplies will struggle to keep up. The global energy challenge is therefore clear.

Australia’s role in meeting this challenge is also clear. It has the resources, the technology and innovation, the political and fiscal stability, and the proximity to key markets that should see it become a world energy leader.

If, however, we are to fulfil our role, and do so in a sustainable way, we need to get the settings right—both internally and externally.

Industry needs to be brave and invest on an unprecedented scale; it needs to harness technology in a way that provides access to resources we never thought were attainable. It needs to overcome the challenges and realise the benefits of unconventionals, all the while addressing the low-carbon imperative.

Government needs to make it possible for industry to take the risks required to get to the next level. It needs to provide certainty around fiscal regimes, stability around industrial relations, and constancy when it comes to long-term access to the resources needed to underpin long-term projects.

Having been in Australia for more than 100 years and contributed to every aspect of the Australian energy sector, Shell is firmly committed to this energy challenge journey. Over the next 10 years we expect to invest somewhere in the vicinity of $20 billion into this country. We plan to develop the discoveries coming from one of the world’s most successful oil and gas exploration programs and harness Shell technology and innovation to do so. We plan to do this in partnership with our joint venturers, the Australian community, and all levels of Australian government.

The challenge is clear. The opportunity is clear. I look forward to working with you.