This undated handout photo released by Cambodia's Ministry of Mines and Energy on Dec 29, 2020, shows an offshore oil platform off the Cambodian coast. - CAMBODIA'S MINISTRY OF MINES AND ENERGY/ AFP
MELBOURNE (Reuters): Australia has passed legislation that could set a precedent for who pays to clean up the fossil fuel industry in Asia, making former owners of oil and gas fields responsible for the costs of dismantling facilities if later owners fail.
The new law provides a blueprint for governments tussling with the oil and gas industry over the removal of hundreds of obsolete energy facilities, particularly as the world moves to a lower-carbon economy.
Already a subscriber? Log in.
Get 30% off with our ads free Premium Plan!
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
