Queensland LNG under pressure to cut exports24 March 2017
Queensland’s LNG exporters are under pressure from the federal government to voluntarily cut back on shipments to ensure enough gas for the needs of eastern Australia.
However, analysts have said the threats have no legal basis, meaning exporters are unlikely to ramp down output unless policies are put in place to require them to do so – something that could threaten Australia’s reputation as a stable destination for investment.
The government has the power to tackle the issue, but this would require Prime Minister Malcolm Turnbull “to challenge Australia’s gas cartel”, Bruce Robertson, investment analyst at the Institute for Energy Economics and Financial Analysis, told Interfax Natural Gas Daily. He added that the situation “is a failure of policy at every level of government”.
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