The declaration from Andrew Forrest’s company that it will deliver gas in 2026 to ease forecast shortfalls came as Victoria refreshed calls for domestic gas reservation.
Gas producers and energy analysts have warned the Albanese government that its intervention in the east coast gas market is deterring the very investment the Australian Energy Market Operator says is vital to head off shortages.on potential gas shortages in the southern states this winter and analysts suggested gas or electricity may need to be rationed, gas industry executives urged the Albanese government to put policy in place that would allow investments to occur.
“The repeated warnings of more natural gas being required now needs to be translated into clear investment signals so that more domestic natural gas is developed where it is needed,” Mr Engelbrecht said. But federal Energy Minister Chris Bowen categorically rejected that the price caps introduced by Labor on wholesale gas “would in any way influence supply”.“It’s a price at which you could make a perfectly reasonable return,” Mr Bowen said. “And, of course, we have special arrangements in place for potential new supply.”
“We shouldn’t be competing with the rest of the world for our gas. We should get first dibs on this, because it’s ours. It comes out of our seabed, and our ground.” Neither Shell, Santos nor Origin Energy, which are respectively involved in the three Queensland LNG export projects and have also called for policy that would allow further investment, would comment on Thursday.Speaking at The Australian Financial Review Business Summit last week, Prime Minister Anthony Albanese emphasised the key role gas must play in the transition to clean energy, words that were welcomed by the gas industry, which is now looking for policy that would allow that to happen.
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