, the ACCC calculated that meeting multi-decade commitments to supply allies such as Japan will mean sourcing another 450 petajoules from “possible and contingent” reserves not yet on stream.
“From legislating a price cap, to proposing a mandatory code of conduct and permanent regulation of prices, the uncertainty in the Australian gas market is having a detrimental impact on the investment decisions to supply more gas, ultimately leaving Australian households and manufacturing worse off.
APPEA’s Samantha McCulloch: Australia is increasingly seeing the consequences of moratoriums and bans in Victoria and NSW, and a raft of ill-considered federal interventions.“These measures were specifically designed to keep the lights on for Australian industry and households while minimising disruptions to gas companies.
“There will be ongoing need for gas from some residential, commercial and industrial users in Australia,” it said.“Even under a greater shift to electrification, consistent with net zero emissions targets, there is likely to be insufficient gas production to meet both domestic and LNG export demand without additional gas being supplied to the east coast gas market.
Shareholders are very worried about out of control extreme right ideologues running these companies. They are likely to strand assets with their dummy spits & even worse loose big bucks by not having enough to export after government reserves Australia's share.