Adelaide, Australia, 15-18 May 2023. Wood Mackenzie attended this year’s APPEA conference in Adelaide, where over 2000 delegates gathered to discuss Australia’s oil and gas sector. Despite the dancing protesters outside the venue, the mood inside was cautiously optimistic. A global shift in emphasis toward energy security and affordability is partly the reason for the optimism. Recent regulatory announcements also suggest Australia has reached peak government intervention. But the uncertainty generated over the last 12 months could leave a lasting impact and the spectre of further intervention has not disappeared completely. Away from market intervention fears, the role of gas and CCS in Australia’s energy transition were key talking points.