The east coast of Australia could face a natural gas shortfall in 2023, prompting experts to call for the country to protect its energy security by diverting liquefied natural gas (LNG) exports to the domestic market, according to a report by the Australian Competition & Consumer Commission (ACCC).
The Interim gas report, released yesterday, 1st August, forecasted that Australia’s east coast could face a shortfall of 56 petajoules (PJ) in 2023, a significant increase on the 2 PJ shortfall predicted last year for 2022’s gas supply.
With a large portion of the gas produced in Australia’s east coast generated by companies that are also LNG exporters, Gina Cass-Gottlieb, Chair, ACCC, stated that the organisation is ‘strongly encouraging’ LNG exporters to immediately increase their supply into the market.
“Our latest gas report finds that the outlook for the east coast gas market has significantly worsened,” she added.
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