Australia’s gas-led recovery dream faces supply wake-up
Canberra’s flagship post-Covid energy policy faces headwinds from a looming supply shortfall
Australia’s southern states could see a supply shortfall of up to 30PJ (equivalent to 2.2mn m³/d) as soon as 2024, according to the most recent Gas Inquiry 2017-2025 interim report from competition watchdog the Australian Competition and Consumer Commission (ACCC). The commission also warns the government’s expanded heads of agreement (HoA) with LNG exporters—which ensures that uncontracted gas must first be offered to domestic buyers on “competitive market terms”—is unlikely to be enough to bridge that gap. Indeed, while noting a decline in wholesale gas prices over the past year, the ACCC says the country needs to build import capacity if it wishes to avoid a price spike that will hurt loc
Also in this section
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
