The Strategist

Australia expects gas shortages by 2027



07/09/2024 - 07:25



A study by the Australian Competition and Consumer Commission suggests that Australia, one of the biggest LNG producers in the world, may experience a gas shortage in two years.



Federico Cardoner via flickr
Federico Cardoner via flickr
The gas crisis is predicted for the heavily populated east coast of the nation in 2027, a year sooner than anticipated. According to the research, this will necessitate shifting LNG that is typically sold on the spot market to local consumers.

At the moment, the primary export markets for LNG—which is made using feedstock from offshore fields in the nation's north as well as developments in Queensland—are Japan, China, South Korea, and Taiwan.

"Long-term solutions to prevent shortages in the gas market will require a range of policy and market measures," the paper stated. "One of these is the pressing need to develop new supplies and production channels for gas."

Australia is still one of the world's top suppliers of LNG despite recent losses to the US and Qatar.

source: reuters.com




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