Australia out of natural gas, pays gas companies to export its reserves
Australia faces potential gas shortages, especially in Victoria and NSW. The Australian Energy Market Operator predicts deficits by 2028 without new supply. Suggestions include importing gas due to full pipelines. Andrew Forrest's Port Kembla LNG import terminal project could initiate gas imports.
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Australia, a major global gas exporter, is facing potential gas shortages, particularly in Victoria and NSW. The Australian Energy Market Operator warns of yearly deficits by 2028 without new supply. To address this, experts suggest importing gas, as existing pipelines are at capacity. Andrew Forrest's Port Kembla LNG import terminal project could kickstart gas imports. Southern states may need import terminals to ship gas from Queensland, Western Australia, or overseas. Despite efforts to reduce gas usage and switch to electric appliances, the demand is still high. Environmental groups oppose imports, advocating for faster household transitions. Local gas producers urge tapping new supplies and building storage facilities over imports to avoid price hikes and job risks. Squadron Energy's Port Kembla terminal is near completion, offering a solution without locking in carbon emissions. The debate continues on whether importing gas is the best solution for Australia's energy security.
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7 commentsEast coast state governments were craven and stupid. They took royalty deals and didn't require supply continuity and exposed their voters to world prices.
It's systemtic corruption on the grandest scale and Australia instead of making billions for its natural resources like Norway does or Saudi Arabia or Russia do, actually pays the gas companies to take our gas. Yes its ridiculous - Australia instead of making massive money as a fossil fuel exporter, pays to get rid of the stuff. The video makes it clear why.
Which then gets sold for example to Japan, which on sells it as a higher price.
https://www.youtube.com/watch?v=Key8y1yg2yQ
Australia is being robbed blind in broad daylight.
He is calling for governments to focus on opening new gas fields and building more storage facilities ahead of imports.
Another point for nuclear energy?
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