Monday, May 29 2023 Sign In   |    Register

News Quick Search



Front Page
Power News
Gas News
Today's News
Yesterday's News
Week of May 22
Week of May 15
Week of May 08
Week of May 01
Week of Apr 24
By Topic
By News Partner
News Customization


Pro Plus(+)

Add on products to your professional subscription.
  • Energy Archive News

    Home > News > Gas News > News Article

    Share by Email E-mail Printer Friendly Print

    Australia gas producers hopeful proposed rules will not harm investment

    March 21, 2023 - Zawya


      Australian natural gas producers are cautiously optimistic a raft of proposed rules for the sector will not stunt investment as the government prepares to unveil the final details of several major interventions into the domestic gas market.

      Consultations over powers that would allow government to divert exports to the domestic market are constructive, said Mark Abbotsford, executive vice president at Woodside Energy , the country's biggest independent gas producer.

      "I do think we can land on a suite of measures that ensure a functioning market and a positive investment climate," said Abbotsford at the Domestic Gas Outlook Conference in Sydney on Tuesday.

      Cautious optimism from industry follows months of warnings from producers that a raft of new rules, including powers to redirect exports and set prices as well as a mandatory code of conduct, would imperil long-term contracts, stop new investments and alienate trade partners.

      With consultation still underway, Prime Minister Anthony Albanese said earlier this month that natural gas had an important role to play in the transition to renewables.

      Andrew Thornton, Executive General Manager at power producer Origin Energy, which has a 27.5% stake in the Australia Pacific LNG project, told Reuters he was "confident" government understood industry's perspective and any risks to investment.

      In a pre-recorded message to the conference, Resources Minister Madeleine King thanked industry for constructive input and said Australia remains a stable investment environment.

      "Recent engagement shows government is interested in working with industry to help bring new supply online," said Stephen Harty, Chief Executive at Gladstone LNG, a joint venture between Santos, Malaysia's Petronas, TotalEnergies and Korea Gas Corp.

      Australia, which vies with Qatar and the United States as the world's biggest liquefied natural gas (LNG) exporter, temporarily capped domestic prices for gas and coal in December for twelve months to curb soaring prices.

      (Reporting by Lewis Jackson; editing by Christian Schmollinger)



    Other Articles - International


       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2023 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.