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Australia Risks Gas Shortfall by 2027

LNG
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Australia faces the risk of a gas shortfall by 2027 and could require the redirection of spot LNG supplies for domestic consumers, said the Australian Competition and Consumer Commission.

  • Shortfalls could emerge for the populous east coast a year earlier than expected from 2027.
  • The country remains a key global exporter of LNG despite losing ground to rising exports from US and Qatar in recent years.
  • “Long-term solutions to gas market shortfalls will require a range of policy and market responses,” the interim report said. “Amongst these, there is an urgent need to develop new sources of gas production and supply.”
  • Current LNG produced from offshore gas fields in northern Australia is mainly shipped to Japan, China, Taiwan, and South Korea.
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Australia faces the risk of a gas shortfall by 2027 and could require the redirection of spot LNG supplies for domestic consumers, said the Australian Competition and Consumer Commission.

  • Shortfalls could emerge for the populous east coast a year earlier than expected from 2027.
  • The country remains a key global exporter of LNG despite losing ground to rising exports from US and Qatar in recent years.
  • “Long-term solutions to gas market shortfalls will require a range of policy and market responses,” the interim report said. “Amongst these, there is an urgent need to develop new sources of gas production and supply.”
  • Current LNG produced from offshore gas fields in northern Australia is mainly shipped to Japan, China, Taiwan, and South Korea.