ACCC confirms need to increase gas supply

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6 July 18, 4:28pm Cooper Energy completes successful testing of Sole-3 well – a key milestone for the Sole Gas Project which will del… https://t.co/o3HU7cI6i5
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by APPEALtd
11 May 18, 10:21am #APPEA2018 #oilandgas #conference is looking to the future of the Australian oil and gas industry’s workplace cultu… https://t.co/Dw24eyjMqg
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10 May 18, 2:22pm With energy policy & resource projects in the headlines – and the possibility of a 2018 federal election – there wi… https://t.co/n2E7Kefjcq
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by APPEALtd
8 May 18, 9:50pm Once again the Federal Budget has highlighted the significant contribution Australia’s natural gas industry makes t… https://t.co/ykRB8pVGcf
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by APPEALtd

The Australian Competition and Consumer Commission (ACCC) Chairman Rod Sims has today confirmed the pressing need for policy and regulatory changes to enhance gas supply in the eastern Australia market.

“Rod Sims has confirmed that more gas and more gas suppliers are needed to increase competition, put downward pressure on prices and ensure reliable supply,” said APPEA Chief Executive Dr Malcolm Roberts.

“While attention is often focused on market conduct and structure, the ACCC is right to indicate that a more competitive market requires removing barriers to developing gas.

“As Mr Sims said, moratoriums are ‘blanket bans’ on supplying gas.

“Analysts are becoming increasingly concerned by the widening gap between local demand and local supply in states such as NSW and Victoria. NSW already imports 95% of its gas.

“There is a risk we will see an artificial shortage of supply in those states if development of new local reserves is blocked.

“The commercial climate for exploration and development is already difficult.  Fewer onshore exploration wells were drilled in 2015 than at any other time in the last 20 years.

“There is an urgent need for policies that provide greater certainty, support exploration and reduce exploration and development costs.”