Exploration & Production

Australia will fail to meet gas demand from 2028 – Woodmac

Australia will not produce enough gas to meet both its LNG export commitments and its domestic demand from 2028, according to Wood Mackenzie.
By Staff reporter 13 September 2018 0 32533

Australia will not produce enough gas to meet both its LNG export commitments and its domestic demand from 2028, according to a Wood Mackenzie forecast.

LNG imports are likely to be Australia’s only physical and commercial option for securing additional gas supplies, as undeveloped resources in eastern Australia and the Northern Territory are either uneconomical, unproven for large-scale development, or too far away from existing infrastructure.

Importing LNG will link Australian gas prices to the global LNG price, which could drive up gas prices...