Senex chief executive Ian Davies, in a blunt submission to the government’s gas market consultation that closed last week, urged Labor to avoid crashing the industry as it scrambles to meet demand in coming years.
“Unfortunately ... the federal government’s actions have reinforced unreasonable and unsustainable expectations that intervention will deliver superior terms and conditions for buyers, resulting in the withdrawal by many buyers from active negotiations and revision of offers,” it said. The market collapse Senex says it experienced coincided with a number of high-profile deals struck between larger buyers and producers in the weeks and days before Labor intervened, and even as speculation of likely action to lower prices was rampant.in late November with Santos from 2025, understood to have been at around $12 a gigajoule, a level the nation’s largest brickmaker said would enable it to make a profit.
“None of these conditions are evident in the current intervention package as presented by the Albanese government.”, which Mr Davies said could not proceed until the role of the market regulator in directing gas companies was clarified.
jacobgreber Neither gas industry, nor governments nor media can use the terrible word 'peak conventional gas' on the east coast to describe the situation. $12/GJ for brick kilns contributes to high construction costs, expensive housing. Yet, dom_perrottet wants more immigrants
Sure, the gas companies who spent years making cash hand over fist by selling our gas to lucrative overseas markets were *just* about to reverse course and service domestic markets before evil Labor forced them to do it... Anyone want to buy a Harbour Bridge?