What does Aussie election mean for LNG?
Australia’s incumbent Prime Minister Malcolm Turnbull looks likely to win the general election. (PA)
Australia goes to the polls this Saturday in a general election that will pit the incumbent government – a coalition of the Liberal and National parties (LNP) – against the Australian Labor Party (ALP). Depending on who wins, the result could affect LNG producers with effects on climate change targets, upstream investment, domestic gas supplies and tax issues.
The looming risk of gas supply shortages in eastern Australia is a point of contention between the LNP and ALP. An Australian Competition and Consumer Commission investigation into the issue has recommended tighter network regulation and the removal of policy restrictions on new developments.