Free Trial

Australia Needs to Boost New Gas Supply: Producer Group

NATURAL GAS

An Australian gas industry group that includes exporters such as Chevron, Shell and Woodside, has called on the government to unlock new supply to avoid domestic shortfalls and to maintain the country’s export industry, cited by Bloomberg.

  • The Australian Energy Producers asked the government in a federal budget submission to release new acreage for petroleum exploration.
  • The government has not released new acreage since August 2022.
  • Investment is needed to help maintain the nation’s LNG export industry, which is worth A$92bn, the group said.
  • Shell said in September last year, Australia needs to encourage new investment in natural gas production. “My advocacy would be for the governing bodies to consider policies that actually incentivize development in the upstream and in the supply gas into Australia, as opposed to disincentivizing it”, Kim Code, Shell’s senior VP East Australia, said last year.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.