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Australian supply of natural gas vastly outweighs its domestic demand, allowing it to become one of the world’s largest exporters of LNG.
Queensland Resources Council says industry would welcome restrictions easing but new long-term customers since found elsewhere in Asia<br><br>
EnergyQuest estimates that Australian LNG exports reached a new record of 81.4 million tons in 2022, up slightly from 81.1 Mt the previous calendar year.
The price might constrain the supply of new energy, become self-perpetuating and annoy Australia’s neighbours and customers.
Gas producers could be forced to break export deals amid fears temporary price caps will stunt new supplies and make it harder for regulators to prevent shortfalls.