ACCC report says region is expected to have surplus of six petajoules in third quarter ‘even if all uncontracted gas is exported’
Australia’s east coast is forecast to have a small surplus of gas in third quarter of 2024, according to the ACCC.Australia’s east coast is forecast to have a small surplus of gas in third quarter of 2024, according to the ACCC.Australia’s east coast is expected to have a small surplus of gas in the third quarter of 2024, with an improvement in forecast supply since the gas market code was introduced.
The ACCC report found the east coast is forecast to have a surplus of six petajoules in the third quarter “even if all uncontracted gas is exported”, up from an estimated shortfall of five petajoules in the December 2023 report. The Albanese government’s gas market code, which the ACCC said is intended to secure “adequate gas supply at reasonable prices”, came into full effect in September 2023.The ACCC said it appeared there would be “sufficient gas to meet demand in the east coast market” but this was “subject to some material uncertainties”.
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