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

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15 October 18, 10:50am APPEA was delighted to support and attend the Broadspectrum event at Chinchilla as part of the company’s commitment… https://t.co/eJCESEGV7v
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by APPEALtd
8 October 18, 11:08am Energy security and prices remain biggest issue facing South Australians, according to a new #SundayMail poll. Dev… https://t.co/g5Fhrvxltl
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by APPEALtd
7 October 18, 5:23pm Miners and oil and #gas workers are among highest paid in #Australia including those who call #Cairns home… https://t.co/rJDlqRR8F3
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by APPEALtd
3 October 18, 1:01pm Australia’s #LNG export earnings increased 36% to $31.7 billion in 2017-18 and are forecast to reach $48.4 billion… https://t.co/E61L0m4VkX
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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.”