Restricting LNG exports to boost domestic gas supply is likely to backfire.

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11 May 21, 3:21pm Tonight’s #budget21 is one of the most important this century. APPEA CEO @sententia_gas explains why and what needs… https://t.co/vovJfcynwa
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by APPEALtd
11 May 21, 12:14pm If we get the right fiscal settings in tonight's #Budget21, a new wave of oil and gas investment can deliver 220,00… https://t.co/vB4YoecWtR
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by APPEALtd
10 May 21, 5:22pm Today’s announcement by @ScottStewartMP to give Comet Ridge energy the green light for a new Bowen Basin based proj… https://t.co/8MZT0oJ6Iq
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by APPEALtd
10 May 21, 1:52pm Tomorrow night’s #budget21 is an opportunity to unlock sustained investment, jobs and growth. Check out what our in… https://t.co/H61ofCmxs2
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by APPEALtd

Curbing Queensland LNG exports is a short-term fix that could actually worsen eastern Australia’s gas supply problem.
 
On 24 July, the Government began the formal process to consider whether the Australian Domestic Gas Security Mechanism (ADGSM) will be used to restrict Queensland LNG exports for 2018.
 
But APPEA Chief Executive Dr Malcolm Roberts warned export restrictions could worsen the problem they were meant to solve.
 
“The industry has tripled east coast gas production in the past five years, creating an entirely new supply from CSG,” he said.
 
“This is despite the political restrictions and bans imposed by some states and the NT..
 
“APPEA agrees more gas is needed in the domestic market, but restricting a successful export industry is not the answer.
 
“Export controls threaten the $50 billion in new investment needed to maintain current supply. Restricting exports will only redistribute existing gas supply; it won’t deliver new supply.
 
“The only sustainable solution is more gas supply. The government should work with industry on regulatory reforms to reduce the cost of developing new supply. And it should continue to pressure state and territory governments to immediately remove gas bans and moratoriums and consider all new projects on their merits.”
 
Dr Roberts said the Energy Supply Outlook (ESO), released in June by the Australian Energy Market Operator, confirmed there is no need to restrict gas exports.
 
He said the ESO was only a partial update of the March 2017 Gas Statement of Opportunities.
 
“It doesn’t capture new gas supply announced after 1 May and, inexplicably, doesn’t revise the high forecasts of LNG demand for gas,” he said.
 
“The ESO shows that actual demand for gas from the LNG projects to date is significantly lower than the March 2017 forecast. The full update, expected in early August, is likely to show no supply shortfalls are expected and there is no need to restrict LNG exports.”