Australia’s opposition leader Peter Dutton has said a Coalition government would introduce a gas reservation scheme, in a move that places energy policy firmly at the centre of the country’s upcoming general election on 3 May.
Under the proposed policy, gas companies would be required to divert more gas to the Australian market, rather than sell it overseas. Around 80% of Australia’s gas is exported.
A Coalition government, if elected, would invest A$1bn into a critical gas infrastructure fund, increase gas pipeline and storage capacity and prevent gas companies from delaying drilling offshore gas fields.
But energy majors are pushing back, saying more intervention will hamper gas supply development. Potentially affected operators include Shell Australia, which exports gas from the Queensland Curtis LNG project (8.5 mtpa), and Australia Pacific LNG, operated by ConocoPhillips.
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