Some interesting points raised here. Didn’t realise Qatar has pulled out of OPEC. The amount of natural gas that Australia produces is merely a number; you need to compare this number with demand to assess excess/shortage etc. And the fundamental principle behind price fluctuations is supply/demand. If Australia had no trade with other countries, of course the Australian gas market would be able to supply its demand. But that isn’t the case; the supply is always going to go to the highest bidder. As long as there is a demand elsewhere in the world, Australian natural gas will go to the highest bidder. I think it is more appropriate to term it as “perceived gas excess” within Australia (which is completely irrelevant as the world markets will always play a part), and “actual gas shortage” which is reality. And there is not always “a lot better things to buy”; reports, literature and articles on this topic all state the lack of resources to continue the same output of natural gas. Natural gas isn’t something that can just be manufactured or created. The gas used now is gas that is gone forever, no coming back. I don’t think Judith is “just a tired old asset being reworked”; the statement may have been correct several years ago, but so much time and work has gone into Judith in the last two years..... can you honestly say that Judith now is in the same position as it was 2 years ago?
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