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Policy & Regulation

Lack of investment puts Australia’s east coast gas market at risk

Australian gas suppliers are delaying investment in exploration needed to stave off longer-term concerns about prices in the country’s east coast gas market, the ACCC has said.
By Staff reporter 19 December 2018 Asia Pacific / Exploration & Production 0 33744

Australian gas suppliers are delaying investment in exploration needed to stave off longer-term concerns about prices in the country’s east coast gas market, the Australian Competition & Consumer Commission (ACCC) said in its Gas Inquiry 2017-20 Interim Report released on Tuesday.

“The market response has been disappointingly slow,” said ACCC Chair Rod Sims. “While, on aggregate, suppliers plan to increase their investment in gas exploration over the next few years, it will still be well below the levels observed five years ago,” said...