US EditionDutton unveils plan to force more gas into Australian market and expand production in major pre-election pitch
- Queensland's LNG sector sells gas under long-term contracts and to domestic buyers, with a proposed scheme to reserve 50 to 100 petajoules of uncontracted gas for domestic use each year, meeting 20% of demand on the eastern seaboard.
- Dutton plans to reduce gas prices to $10 per gigajoule from the current $14, aiming for lower power bills.
- The proposed gas reservation has sparked backlash from the gas industry, which warned it could deter new investments needed for gas supplies.
- Experts doubt the feasibility of lower gas prices, citing steadily increasing production costs and market dynamics.
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Coalition to Reveal Modelling for Domestic Gas Reserve Plan in ‘Coming Days’
Opposition Leader Peter Dutton said modelling for its plans to establish a reserve, where exporters would be required to set aside gas for the domestic market, will be released in the coming days. He said prices would come down if more supply is introduced into the market but didn’t specify how much Australians would save. Dutton said the government is currently choking the supply of natural gas into the economy. “People have spoken for years an…
·New York, United States
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Total News Sources21
Leaning Left5Leaning Right5Center1Last UpdatedBias Distribution45% Left, 45% Right
Bias Distribution
- 45% of the sources lean Left, 45% of the sources lean Right
45% Right
L 45%
R 45%
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