Queensland pilots gas reservation as LNG ramps up

By Sally Bogle 9 February 2017
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A gas well in the Cooper Basin. Eastern Australia is suffering a supply crunch. (Beach Energy) A gas well in the Cooper Basin. Eastern Australia is suffering a supply crunch. (Beach Energy)

Policymakers in Queensland are rallying to boost gas supplies for local users before increased amounts of exports tighten the eastern Australian market. Regional prices are climbing as three new LNG projects ramp up their exports and producers choose international buyers over local customers.

In an attempt to boost supply, the Queensland government has announced it will set aside 5,800 hectares in the Surat Basin for gas exploration, with all the gas produced there to be marketed to local users only. It is the first time such a step has been taken in eastern Australia and follows long-standing political resistance to the idea at a federal level.

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