Supply & Demand

Australian gas companies agree to two-year supply deal

Australian Prime Minister Malcolm Turnbull has announced that gas companies have agreed to a two-year domestic supply deal to plug projected shortfalls.
By Staff reporter 27 September 2017 0 27751

Australian Prime Minister Malcolm Turnbull announced on Wednesday that gas companies have agreed to a two-year domestic supply deal to plug projected shortfalls in the east of Australia, Reuters has reported.

This means the government will not have to intervene in the market, which would have curtailed LNG exports.

Gas companies operating LNG plants on the east coast have stated they will offer first priority to domestic customers for any of their uncontracted gas supply, according to Turnbull.

Eastern Australia faces a...