Australia faces up to Victoria’s gas folly
As gas supplies dwindle, LNG becomes the only viable solution in a state that has focused on transition
The government of the Australian state of Victoria’s decade-long efforts to wean itself off gas have left it in a difficult situation. Melbourne’s energy transition strategy has focused on switching residential and commercial gas users to electricity from green projects. Unfortunately for the state’s energy planners, Victorian gas demand has declined far slower than expected. Coupled with government inaction over falling local gas production levels, and the state is now expected to experience pronounced gas shortages within the next two years. Australian energy consultancy EnergyQuest’s latest report on the East Coast gas market warned that seasonal supply gaps will emerge in Victoria and Ne

Also in this section
7 February 2025
The history of tin production and prices offers a preview of the future oil market. If correct, $35/bl could become the new normal for crude for several years without further OPEC+ intervention
7 February 2025
Changing oil demand patterns mean different downstream economics amid switch to naphtha, LPG and other petrochemicals
6 February 2025
Policy initiatives will take time to reverse declining output, and restoring investor confidence is far from certain
6 February 2025
This premier event is poised to address the evolving technology and investment demands of North America’s thriving chemical and pharmaceutical sectors