ACCC commissioner Ms Anna Brakey said this today in a speech at...

ACCC commissioner Ms Anna Brakey said this today in a speech at Australian Domestic Gas Outlook conference.

I don’t need to tell anyone in this room that gas will play a critical role over the next two decades in maintaining power grid security, supplying commercial and industrial customers, and powering households until the residential sector is electrified.

Concerningly, the current gas supply outlook includes undeveloped reserves, which in some cases are yet to receive investment approval and the necessary regulatory approvals to begin production. Delays or ending these projects could result in a worse supply outlook.

Conversely, there are many potential new projects that if successfully brought online will make a material difference to the supply outlook. These projects include production from new fields and basins, as well as LNG import terminals.

To support domestic gas supply over the longer-term, the conditional exemptions under the Gas Market Code are intended to provide certainty for businesses to invest in new projects. And I will come to the Gas Market Code in more detail shortly.


Then in the conclusion part of the speech...

We continue to hold concerns about the longer-term outlook, particularly the shortfall in the southern states, and it is therefore critical that new projects are brought online, and the LNG producers commit sufficient gas to our domestic market.