Current LNP policy is increase domestic production. Current NSW domestic production is 0 Tj/day. If NSW does not address it's inability to produce gas locally, it would need to import gas. The issue, as I have explained previously, is that the cost to the user of PKIT gas is $20/Gj+. A recent media report stated that it is actually $25/Gj wholesale, therefore higher to the consumer. At that price, heavy industry in NSW is uneconomic and be forced to close leading to significant job losses and a ripple effect of increasing the cost of living. Kurri Kurri would likely stay running on diesel, at least they can actually buy diesel. NSW is now horribly exposed and that would be self-inflicted due to 5 years of paralysis.
MMR Price at posting:
0.5¢ Sentiment: Buy Disclosure: Held
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