The perfect storm

I wonder who is sitting on massive reserves? Apologies if this has already been posted.

The 2019 GSOO highlights that the gas supply-demand balance remains tight, with gas production insouthern Australia continuing to decline, and supplies from Queensland limited by pipeline capacity:• Supply from existing and committed gas developments is forecast to provide adequate supply tomeet gas demands until 2023. However, risks remain that any weather-driven variances inconsumption or electricity market activity could increase gas demand, creating potential peak-dayshortages as outlined in AEMO’s 2019 Victorian Gas Planning Report1.• While new gas development is continuing in Victoria, reserve estimates have reduced, and producersare declaring more gas resources commercially unviable. Consequently, production from the southerngas fields is expected to decline over the 20-year outlook.– From 2021 to 2023, this decline in production will reduce Victoria’s ability to export surplus gassupplies to South Australia and New South Wales, placing more reliance on Queensland suppliesto meet gas demand in these states. It will also increase reliance on the Iona underground gasstorage facility to meet winter demand in Victoria.– From 2024, major southbound pipeline infrastructure upgrades would be required to deliver moregas from northern to southern states (predominantly over the winter months when southerndemand is highest). AEMO forecasts potential for supply gaps from 2024 onwards, unlessadditional southern reserves and resources, or alternative infrastructure, are developed.