State and federal governments are being warned to prepare for...

State and federal governments are being warned to prepare for potentially soaring gas prices as a result of a near-tripling of gas demand from liquefied natural gas (LNG) projects, according to The Australian.

The warning, to come in a position paper to be released Friday by the Australian Pipeline Industry Association (APIA), stresses that governments must establish a framework to plan for the spike in gas demand to prevent soaring prices that would harm the manufacturing, agricultural and construction sectors.

The primary issue facing governments is how best to absorb demand from three LNG export projects in Queensland set to come on line in the coming few years.

***“The only answer is to access broader supply from as many sources as possible, as soon as possible,” APIA chief executive Cheryl Cartwright told The Australian.

“Australia has an abundant supply of natural gas. It is time for policymakers to set in place a system that will ensure that the nation benefits from exports and domestic use of natural gas.”

*** Guess where they will be trying to get that gas supply from?? APT626 might have to play a part too!!