THE federal government has signalled that it may need to intervene in the gas market to ensure uninterrupted domestic supplies, amid a boom in overseas demand for Australian gas.
A number of export gas projects are being developed off Western Australia, as well as in Queensland, which has led to surging wholesale gas prices expected to push up household and industrial gas prices.
Indicating the emerging difficulties, one power company, WA's Verve Energy, has expressed concern about supply shortages that may result from surging international demand for Australian gas.
In a speech to be given today, the Resources Minister, Martin Ferguson, is to flag a tougher approach by the federal government to ensure domestic gas supplies are not affected by overseas demand.
