The Australian government sees gas playing a key role in rebuilding the Australian economy as it looks to emerge from the most severe global economic crisis since the Great Depression.

In handing down the federal budget this week, Australian Treasurer Josh Frydenberg highlighted recent announcements which will see A$2.47 billion (US$1.76 billion) put towards lowering energy prices, reducing emissions and boosting the economy.

This includes funding for the government’s recently announced “gas-led recovery” from the Covid-19 pandemic, as the country tackles its first recession in 30 years, and the worst since World War 2.