SUPPLY DEFICIT REITERATED - GAS CODE NEXT WEEK

https://www.appea.com.au/all_news/media-release-accc-confirms-east-coast-gas-supply-surplus-but-warns-of-southern-state-shortfall-risk/

Hi all

Great read here from ACCC and APPEA which again reiterates the need for Comet’s Mahalo projects to be brought online and contribute to the supply deficit.. The part I love the most -

“.. the ACCC warns of potential shortfalls in New South Wales and Victoria, where existing production continues to decline, increasing pressure on supply from Queensland.

The Australian Petroleum Production & Exploration Association (APPEA) today said the latest ACCCJune 2023 Interim Gas Inquiry Report showed adequate supply that demonstrated the industry’s commitment to the domestic market and keeping the lights on along the east coast of Australia.

“Australia’s gas industry is delivering on its commitment to households and businesses,” APPEA Chief Executive Samantha McCulloch said.

However, the report’s warning that the southern states were increasingly reliant on Queensland and needed “substantial volumes of gas” to avoid shortfalls was the latest in a long line of warnings to Victoria and NSW.

Ms McCulloch said: “The ACCC report highlights there is not enough gas being produced in NSW and Victoria where huge populations rely on gas while uncertain regulatory regimes and bans are stifling investment in new supply.”