Misguided calls for domestic gas reservation

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24 July 17, 1:52pm Restricting LNG exports to boost domestic gas supply could deter the investment needed to maintain current supply https://t.co/uAFm0a1kOD
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by APPEALtd
14 July 17, 10:28am QLD provides template that other states can use for safe, sustainable & successful onshore gas development #auspol https://t.co/qV8RfIocF0
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by APPEALtd
7 July 17, 10:29am Aust #LNG exports to jump from $23B to $37B in next 2 years, but policy changes needed to secure these benefits.… https://t.co/5WaYm01CZg
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by APPEALtd
5 July 17, 3:03pm Australian average wholesale gas prices are below Asian average: report. Prices are higher in Japan, China, S Korea https://t.co/qDGkYbMZfE
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by APPEALtd
Gas Exports

Calls to restrict billions of dollars-worth of LNG exports in favour of a domestic gas reservation policy will not lead to lower natural gas prices or increase gas supply.

More than $60 billion worth of natural gas projects in Queensland alone, which employ about 30,000 people, would need to be dramatically altered to adhere to Manufacturing Australia’s self-interested proposal.

This would ultimately deter the investment needed to bring on new gas supplies.

East coast gas prices are rising in response to rising costs of supply and market conditions. Any move to cut back on exports is clearly not the right solution.

“Australia benefits when we export goods at market prices. That’s not just true for gas; it’s true for wine, wool, wheat and cotton,” said APPEA Chief Executive David Byers.

“To claim Australia’s gas prices are amongst the highest in the world is demonstrably untrue.

“The best solution to higher gas prices is the production of more gas – not the introduction of new regulation. Such a policy would actually reduce the very investment needed to bring on new supplies.”