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The competition watchdog has calmed fears of a looming gas supply shortage, saying there will be enough gas to meet Australian domestic demand into next year as it forecasts a 9 per cent lift in liquid natural gas exports.
The Australian Competition and Consumer Commission’s (ACCC) quarterly report into the gas market, released on Wednesday, projects that even if all uncontracted gas produced in Australia is exported, there will still be an overall east coast surplus.
Bass Strait gas production has fallen steeply.
A surplus is good news for households grappling with a cost of living crisis amid fears of prices rising even further. In June, the watchdog flagged a winter shortfall of gas for heating and electricity generation.
The latest ACCC Gas Inquiry Reportprojects there will be an overall east coast surplus of 1.4 petajoules in the first three months of 2024. Gas supply during …
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