Australia’s east coast gas market is expected to have a six petajoule (PJ) surplus in the third quarter of 2024, even if the three LNG producers export all their uncontracted gas, according to the March 2024 interim gas inquiry report by the competition watchdog, the ACCC.
Gas prices fell significantly during the past year, driven in part by the COVID-19 pandemic, but the competition and consumer watchdog, the ACCC, has flagged that lower prices may not last, with the risk of a supply shortfall remaining.
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